--- title: "Hong Kong stocks movement: Tariff concerns + Goldman Sachs raises forecast, copper stocks rise collectively" type: "News" locale: "en" url: "https://longbridge.com/en/news/288383442.md" description: "JIANGXI COPPER rose 10.28%; China Nonferrous Mining rose 5.78%, with a transaction amount reaching HKD 375 million; Jinxun Resources rose 4.79%, with a transaction amount reaching HKD 6.89 million; China Daye Nonferrous Metals rose 4.04%, with a transaction amount reaching HKD 2.84 million; Jinchuan International's market value reached HKD 8.405 billion" datetime: "2026-06-02T07:41:28.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288383442.md) - [en](https://longbridge.com/en/news/288383442.md) - [zh-HK](https://longbridge.com/zh-HK/news/288383442.md) --- # Hong Kong stocks movement: Tariff concerns + Goldman Sachs raises forecast, copper stocks rise collectively **Hong Kong Stock Movement** Jiangxi Copper rose by 10.28%. Based on recent key news: 1. On June 2, Zhitong Finance reported that copper stocks collectively rose, with Jiangxi Copper increasing by 4.39%. The U.S. Department of Commerce is about to release recommendations on refined copper import tariffs, leading to a bullish sentiment on copper prices, with expectations that copper prices may rise to USD 14,500 per ton in the next month. Citigroup and Goldman Sachs both raised their copper price forecasts, driving up copper stocks. 2. On June 2, Goldman Sachs lowered its global copper mine supply growth forecast for 2026 by 350,000 tons, while U.S. copper imports exceeded expectations, prompting Goldman Sachs to significantly raise its forecast for the copper supply gap outside the U.S. from 60,000 tons to 640,000 tons. This expectation of supply tightness further pushed up copper prices, benefiting Jiangxi Copper's stock price. 3. On June 2, Citigroup stated that due to concerns about potential U.S. import tariffs, bullish sentiment on copper prices has increased, with expectations that copper prices will reach USD 15,000 per ounce in the next 6-12 months. This optimistic outlook has boosted market confidence in copper stocks, driving up Jiangxi Copper's stock price. The expectation of rising copper prices has led to an increase in copper stocks. **Stocks with High Trading Volume in the Industry** China Nonferrous Mining rose by 5.78%. Based on recent news, 1. On June 2, the U.S. Department of Commerce is set to release the latest recommendations on refined copper import tariffs by June 30. Due to concerns about potential U.S. import tariffs, bullish sentiment on copper prices has increased, with expectations that prices may rise to USD 14,500 per ton in the next month. This news has driven copper stocks collectively higher, leading to an increase in China Nonferrous Mining's stock price. 2. On June 2, Goldman Sachs lowered its global copper mine supply growth forecast for 2026 by 350,000 tons, while the growth in U.S. copper imports exceeded expectations, prompting Goldman Sachs to significantly raise its forecast for the copper supply gap outside the U.S. from 60,000 tons to 640,000 tons. Goldman Sachs raised its year-end copper price forecast by over 10%, from the previous estimate of USD 12,465 per ton to USD 13,735 per ton. This news further propelled copper stocks upward. 3. On June 2, Citigroup stated that due to concerns about potential U.S. import tariffs, bullish sentiment on copper prices has increased, with expectations that prices may rise to USD 14,500 per ton in the next month. It is expected that copper prices will reach USD 15,000 per ounce in the next 6-12 months. This news is favorable for copper stocks, leading to an increase in China Nonferrous Mining's stock price. Bullish sentiment on copper prices and downward adjustments in supply expectations. JinXun Resources rose by 4.79%, with a trading volume of HKD 6.89 million, and there has been no significant news recently. The trading is active, with clear capital flow, and considering the sector and industry trends, this stock shows significant volatility, with specific reasons needing further observation. China Daye Nonferrous Metals rose by 4.04%, with a trading volume of HKD 2.84 million, and there has been no significant news recently. The trading is active, with clear capital flow, and considering the sector and industry trends, this stock shows significant volatility, with specific reasons needing further observation **Stocks Ranked Among the Top in Market Capitalization in the Industry** Jinchuan International has a market capitalization of HKD 8.405 billion. Based on recent key news: 1. On June 1, Gansu Electric Power Investment Jinchang Power Generation Company signed an industrial steam supply cooperation agreement with Jinchuan Group Thermal Power Company. Both parties will continue to deepen multi-field and all-round energy collaboration. This cooperation agreement may enhance Jinchuan International's energy supply capacity, strengthen its market competitiveness, and drive up its stock price. There are no other significant news recently. 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