The Zhitong Finance App learned that non-ferrous metals stocks were under collective pressure. As of press release, Minmetals Resources (01208) fell 5.95% to HK$7.91; Luoyang Molybdenum (03993) fell 4.92% to HK$14.48; Zijin Gold International (02259) fell 4.09% to HK$140.8; and China Aluminum (02600) fell 3.39% to HK$7.4.

According to the news, the US core CPI growth in September exceeded expectations, and traders sharply raised their bets on the Federal Reserve's interest rate hike in October. Affected by this, the US dollar index and US bond yields rose sharply, and non-ferrous commodities were suppressed. However, CITIC Construction Investment said that currently, non-ferrous equity PE such as gold, copper, and aluminum are all at a low level. The continued inflow of gold ETFs has effectively resisted the pressure of the US dollar and US bonds. Gold prices have stabilized, and capital flows back into gold stocks. Gold stocks are likely to start before the price of gold. Copper, the basic industrial metal, benefits from supply-side disturbances, and stocks remain tight, and copper prices are strong; aluminum counteracts concerns about long-term excess with low inventories, and prices are extremely resistant to falling.

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