The Zhitong Finance App learned that copper stocks had the highest decline. As of press release, China Nonferrous Mining (01258) fell 4.03% to HK$12.16; Jiangxi Copper (00358) fell 3.69% to HK$27.68; Minmetals Resources (01208) fell 3.56% to HK$6.765; and Luoyang Molybdenum (03993) fell 3.46% to HK$12.29.

According to the news, the market previously expected the US to announce the results of the electrolytic copper import tariff policy at the end of September, but until mid-October, the policy was still pending. French Foreign Trade Bank analysts warned that transactions betting on tariffs have formed a bubble in the copper market. If the possibility of tariffs is ruled out, the bubble may burst soon. Macquarie said that in this case, the price of copper could fall to $10,000 per ton.

Notably, on October 13, the already on strike at the Centinela copper mine restarted voluntary mediation; on October 14, BHP Billiton reached a preliminary agreement with Escondida to avoid an important copper strike. Bank of China International pointed out that the extreme situation where the world's largest copper mine and core mine were in a hurry at the same time was quickly resolved in the same week, and the supply disturbance premium that was included in the price earlier faced a concentrated backlash.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.