CMOC Group Limited (03993) rose nearly 5% in the afternoon, as of the deadline, up 4.89% to HK$6.44, with a turnover of 0.217 billion Hong Kong dollars.
According to the Zhitong Finance APP, CMOC Group Limited (03993) rose nearly 5% in the afternoon, up 4.89% to HK$6.44 as of the deadline, with a turnover of 0.217 billion Hong Kong dollars.
On the news front, according to Tungsten and Molybdenum Cloud Market, as of the 14th, the domestic molybdenum iron and steel recruitment exceeded 8700 tons in September, large steel mills such as TaiSteel, Baosteel, Dongbei Special Steel, Hesteel, Shagang successively entered the market, with concentrated molybdenum demand for the double festival stockpiling. China Securities Co., Ltd. pointed out that with continuous strong downstream demand during the "Golden September and Silver October" period, molybdenum prices are expected to rise.
In addition, the Federal Reserve announced a 50 basis point cut in the federal funds target range. Pacific Securities believes that with the start of the interest rate cut cycle, support from the data side strengthens expectations of a soft landing, coupled with the upcoming peak demand season, they are bullish on the upward trend of basic metal prices. Debon Securities, on the other hand, stated that in 2024, the global monetary environment is transitioning from tight to loose, domestic economy is gradually recovering, and the nonferrous metals sector may see excess returns.