5/16,$CMOC (03993.HK)$AH shares all fell by more than 5%. As of press release, they were down 5.40% to HK$7.89, with a turnover of HK$640 million.

According to the news, it was recently reported that commodity trader Torque and IXM, a trading company owned by Luoyang Molybdenum, hold a large number of short positions in the COMEX copper market and are seeking physical copper deliveries. In response, the Luoyang Molybdenum Industry public account issued a clarification statement in the afternoon, stating that the hedging trading strategy of international trading companies buying in one market and selling the same amount in another market is common practice in the industry. Currently, there are high premiums for copper products in the US COMEX market. As a global commodity trading company, it is beneficial to carry out physical transactions in this market. Exxon's hedging trading strategy is different from simple speculation; the risk is completely manageable.