Changes in Hong Kong stocks | The decline in copper stocks widened in the afternoon, and interest rates on US bonds hit a new high in nearly 20 years. US copper tariffs and monetary policies suppress copper prices

The Zhitong Finance App learned that the decline in copper stocks increased in the afternoon. As of press release, Zijin Mining (02899) fell 3.29% to HK$33.48; Jiangxi Copper (00358) fell 3.08% to HK$32.78; China Nonferrous Mining (01258) fell 2.97% to HK$15.37; and Minmetals Resources (01208) fell 1.97% to HK$8.465.

According to the news, on September 15, the US 10-year Treasury yield rose to 5.02%, the highest level since 2007. According to reports, the US PPI rose 5.4% year on year in August, and the 3.4% year on year increase in CPI was in line with expectations. The inflation data strengthened expectations of the Federal Reserve's interest rate hike in September, and the fluctuation of the US dollar increased, which also suppressed copper prices.

Societe Generale Futures released a research report saying that the short-term US copper tariff policy may have a major impact on copper supply and demand. We still need to pay attention to the progress of the US copper tariff policy, CL price spreads, and changes in global copper inventory flows. LME inventories rose yesterday, and market concerns about structural supply constraints continued to ease. Overall, the upward trend of copper has not changed in the medium to long term, but disturbances in the Federal Reserve's monetary policy and US copper tariff policy have increased, and combined valuations are at a high level, and the risk of copper price adjustments has increased.