The Year of the Snake concludes with Hong Kong stocks rising, the non-ferrous sector surging, MINIMAX-WP skyrocketing by 24%, and KNOWLEDGE ATLAS increasing by 4.74%, both reaching new highs
Wallstreetcn·- On February 16, the last trading day of the Year of the Snake, the Hong Kong stock market opened lower but ultimately rose, with the Hang Seng Index increasing by 0.52% by market close. - The AI application sector showed strong performance, particularly MINIMAX-WP, which surged 24.56% after launching its flagship programming model. - Meanwhile, the non-ferrous metal sector also saw gains, driven by various demands during the Valentine's Day and the upcoming Spring Festival.Copper prices soar, are Chinese mining companies making a fortune?
Wallstreetcn·- Goldman Sachs' global commodity research team significantly raised its price forecasts for gold and copper, predicting improved profitability for Chinese mining companies. - The report anticipates a 10%-16% increase in the 2026 gold price to around $4,978 per ounce and a 7% increase in copper prices to $12,200 per metric ton. - Headline firms are expected to benefit from both price growth and capacity expansion, with predictions of copper production increases of 9%-14% by 2026, alongside bolstered earnings forecasts.Lundin Mining breaks through the $50,000 mark, and after the export ban expires, the Democratic Republic of the Congo has not yet resumed exports
Wallstreetcn·- Cobalt prices surpassed $50,000 per ton on Monday, driven by strict supply controls. - The Democratic Republic of Congo, which accounts for about 70% of global cobalt production, has not resumed exports despite the expiration of a cobalt export ban. - A new quota system has been implemented to regulate exports, allowing a limited amount of cobalt to be shipped in the coming years, while the government aims to stabilize prices and enhance control over strategic resources.Copper price increase boosts, CMOC's Q3 net profit doubled year-on-year, setting a historical high for the same period, while cobalt sales significantly declined leading to revenue shrinkage | Financial Report Insights
Wallstreetcn·- Luoyang Molybdenum's Q3 net profit surged 96.4% year-on-year to a record high, driven by rising copper and cobalt prices, despite a 2.36% decline in revenue. - The company reported a revenue of 507.13 billion yuan for Q3, with a notable increase in copper production and sales, while cobalt sales fell significantly. - Concerns arise from cash flow pressures, increased short-term debt, and rising tax liabilities, indicating potential risks despite strong profit growth.CMOC's revenue in the first half of the year decreased by 7.8% year-on-year, while net profit attributable to the parent company increased by 60.1%, reaching a record high | Financial Report Insights
Wallstreetcn·- Luoyang Molybdenum's revenue for the first half of 2025 decreased by 7.83% to 94.77 billion yuan, but net profit surged by 60.07% to a record high of 8.67 billion yuan due to improved operational efficiency and effective cost control. - The company exceeded production targets for copper and cobalt, with outputs of 353,600 tons and 61,100 tons, respectively, reflecting operational improvements in its Congo projects. - Luoyang Molybdenum also entered the gold mining sector with the acquisition of a project in Ecuador, enhancing its metal portfolio while facing challenges related to commodity prices and geopolitical risks.