Understanding the Market | CDAYENONFER rises nearly 25% again, concentrate processing fees remain low, and the copper smelting industry may welcome a reversal of involution
CDAYENONFER rose nearly 25% again, with a cumulative increase of over 144% in the past nine trading days. As of the time of writing, it rose 19.82%, trading at HKD 0.133, with a turnover of HKD 33.5506 million. In terms of news, the fifth meeting of the third council of the Copper Branch of the China Nonferrous Metals Industry Association was recently held in Xiong'an New Area, Hebei. The issue of "involution" competition in the copper smelting industry leading to persistently low copper concentrate processing fees was the most concentrated feedback from representatives at this meeting and is also the most prominent issue in the industry at present. CDAYENONFER's revenue in the first half of the year decreased by over 10%, mainly due to the dual effects of accelerated release of concentrated domestic and foreign smelting capacity and tight supply of copper concentrate, resulting in persistently low smelting processing fees and reduced product output of the enterprise
According to the Zhitong Finance APP, China Daye Nonferrous Metals (00661) has risen nearly 25% again, with a cumulative increase of over 144% in the past nine trading days. As of the time of publication, it has risen by 19.82%, trading at HKD 0.133, with a transaction volume of HKD 33.5506 million.
On the news front, the fifth meeting of the third council of the Copper Branch of the China Nonferrous Metals Industry Association was recently held in Xiong'an New Area, Hebei. The issue of "involution" competition in the copper smelting industry leading to persistently low copper concentrate processing fees was the most concentrated feedback from representatives at this meeting and is also the most prominent issue in the industry at present. China Daye Nonferrous Metals saw a revenue decrease of over 10% in the first half of the year, mainly due to the dual effects of accelerated release of domestic and foreign smelting capacity and tight copper concentrate supply, resulting in continuously low processing fees and a reduction in the company's product output
