Copper prices on the London Metal Exchange surged by 10% overnight, reaching a historical high of $14,500 per ton, before retreating 6% from that peak. The volatility in metal prices led to a decline in gold mining stocks, with Jiangxi Copper (358) dropping nearly 10%. As copper prices hit new highs, if one believes that the decline in Jiangxi Copper's stock price is excessive and is looking for a rebound, one can consider Jiangxi Copper call warrants (24214), with an exercise price of HKD 63.58, expiring in July 2026, with an actual leverage of 4.1 times.
Gold prices also experienced a fluctuation of 10% yesterday, dragging down Zijin Mining (2899) by nearly 9% this morning. Reports indicate that Zijin will acquire three mining projects in Canada for CAD 5.5 billion. If one is optimistic about the company's expansion and wishes to take advantage of the pullback, one can pay attention to Zijin call warrants (21895), with an exercise price of HKD 48.62, expiring in April 2026, with an actual leverage of 7.4 times. Conversely, gold prices have risen nearly 20% since the beginning of 2026, and if one believes there is room for a pullback, one can consider Zijin put warrants (25087), with an exercise price of HKD 28.97, expiring in July 2026, with an actual leverage of 3.8 times.
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02899

601899

600362

00358

Gold prices fluctuated nearly 10% overnight, and copper prices fell 6% after reaching historical highs, leading to a setback for metal stocks. Jiangxi Copper's stock price plummeted nearly 10%, and investors may pay attention to Jiangxi Copper's call options. Zijin's stock price dropped nearly 9% this morning due to its acquisition of a Canadian mining project for CAD 5.5 billion, and investors may focus on Zijin's call options. Gold prices have risen nearly 20% since early 2026, and investors who are bearish may consider Zijin's put options

𣾀豐輪證點評

ZIJIN MINING

Zijin Mining

JCCL

JIANGXI COPPER

[Metals] Gold prices fluctuated nearly 10% overnight, and metal stock prices were hit this morning. For rebounds, pay attention to Zijin Purchase 21895/Zijin Gold Purchase 24669/Jiangxi Copper Purchase 24214