Changes in Hong Kong stocks | Copper stocks continue to decline, and labor risks in Chile's two major copper mines have been lifted one after another and the US copper tariffs have been delayed

The Zhitong Finance App learned that copper stocks continued to decline. As of press release, China Nonferrous Mining (01258) fell 5.22% to HK$12.71; Luoyang Molybdenum (03993) fell 4.40% to HK$13.05; Minmetals Resources (01208) fell 4.08% to HK$7.165; Jiangxi Copper (00358) fell 3.90% to HK$29.08.

According to the news, on October 13, the Centinela copper mine, which had already gone on strike, restarted voluntary mediation; on October 14, trade union No. 2 of Escondida, the world's largest copper mine, announced a strike on the same day after the mandatory mediation failed, and BHP Billiton reached a preliminary agreement with it at the last minute. 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.

Guangfa Futures, on the other hand, said that the market's previous mainstream expectation was that the US would announce the results of the electrolytic copper import tariff policy at the end of September, but the policy was still pending until mid-October. Market expectations of additional tariffs imposed by the US eased, and LME copper prices stopped rising after reaching a record high. The bank pointed out that the reason the US copper tariff policy has been slow to be clarified may be that the policy's purpose of “promoting the reconstruction of US smelting capacity” is difficult to achieve.