--- title: "Understanding the Market | Copper stocks opened lower across the board as the probability of the Federal Reserve raising interest rates this year surged, constraining copper prices due to liquidity contraction" type: "News" locale: "en" url: "https://longbridge.com/en/news/288985028.md" description: "Copper stocks opened lower across the board. As of the time of writing, China Nonferrous Mining fell 12.01% to HKD 12.82; Jiangxi Copper fell 4.34% to HKD 33.98; MMG fell 4.32% to HKD 8.4; Zijin Mining fell 2.91% to HKD 32. On the news front, the U.S. adjusted non-farm payrolls for May recorded 172,000, exceeding the expected 85,000. The combined new jobs for March and April were revised up by 93,000, marking the strongest employment growth in over two years for the past three months. The market is currently pricing in that the Federal Reserve will raise interest rates before January next year, with the probability of a rate hike in December rising from 48% to 63%. CICC Futures pointed out that the high prices are continuously showing a backlash effect on spot consumption. Although absolute copper prices have retreated from previous highs, they remain in a historically high range, and downstream companies' purchasing willingness is low, only maintaining essential demand. Great Wall Securities stated that looking ahead, we believe that the continued contraction of existing liquidity will gradually become a core variable constraining copper prices, while interest rate hike expectations suppress global industrial product demand expectations, limiting the upward drive for copper prices, making the overall market prone to weak fluctuations" datetime: "2026-06-08T01:32:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288985028.md) - [en](https://longbridge.com/en/news/288985028.md) - [zh-HK](https://longbridge.com/zh-HK/news/288985028.md) --- # Understanding the Market | Copper stocks opened lower across the board as the probability of the Federal Reserve raising interest rates this year surged, constraining copper prices due to liquidity contraction According to Zhitong Finance APP, copper stocks opened lower across the board. As of the time of publication, China Nonferrous Mining (01258) fell 12.01% to HKD 12.82; Jiangxi Copper (00358) fell 4.34% to HKD 33.98; MMG (01208) fell 4.32% to HKD 8.4; Zijin Mining (02899) fell 2.91% to HKD 32. In terms of news, the U.S. adjusted non-farm payrolls for May recorded an increase of 172,000, exceeding the expected 85,000. The total number of new jobs added in March and April was revised up by 93,000, marking the strongest job growth in over two years for the past three months. The market is currently pricing in that the Federal Reserve will raise interest rates before January next year, with the probability of a rate hike in December rising from 48% to 63%. CICC Futures pointed out that the high prices are continuously showing a backlash effect on spot consumption. Although the absolute copper price has retreated from previous highs, it remains in a historically high range, and downstream companies' purchasing willingness is low, only maintaining essential procurement. Great Wall Securities stated that looking ahead, we judge that the continued contraction of existing liquidity will gradually become the core variable constraining copper prices, while interest rate hike expectations suppress global industrial product demand expectations, limiting the upward drive for copper prices, making the overall market prone to weak fluctuations ### Related Stocks - [01258.HK](https://longbridge.com/en/quote/01258.HK.md) - [600362.CN](https://longbridge.com/en/quote/600362.CN.md) - [01208.HK](https://longbridge.com/en/quote/01208.HK.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [00358.HK](https://longbridge.com/en/quote/00358.HK.md) ## Related News & Research - [China Nonferrous Mining Sets 2026 AGM, Proposes Dividend and Share Issue Mandate](https://longbridge.com/en/news/288425422.md) - [Goldman Sachs raises copper price forecast as global supply tightens](https://longbridge.com/en/news/288195540.md) - [Copper Rises as Precious Metals Pare Losses & Dip Buyers Emerge | Can the Lows Hold? Metals Minute Phil Streible](https://longbridge.com/en/news/289045064.md) - [Does Southern Copper’s (SCCO) Insider Sale Reframe How Investors Weigh Peru–Mexico Risk Against Copper Prices?](https://longbridge.com/en/news/288915143.md) - [Fed signals possible 2026 rate hikes as inflation stays high](https://longbridge.com/en/news/288907359.md)