Hong Kong Stock Volatility | Non-Ferrous Metals Lead Declines, Copper and Aluminum Accumulate Significantly During the Spring Festival, Peak Season Faces a Test

LootboxPhobia · 2026-03-06T02:24:51+00:00

Non-ferrous metal stocks generally declined, with China Aluminum down 5.24% and Non-ferrous Mining down 4.15%. Copper inventories at the London Metal Exchange increased to 282,200 tons, reaching a new high. Orient Securities pointed out that during the holiday accumulation, short-term fluctuations are influenced by risk aversion sentiment, but supply and demand remain the main factors. Focus on the post-holiday inventory reduction situation.

LootboxPhobia

2026-03-06 02:24:51

Abstract generation in progress

CITIC Finance APP has learned that non-ferrous metal stocks led the decline. As of the latest report, China Aluminum (02600) fell 5.24% to HKD 13.74; China Nonferrous Mining (01258) dropped 4.15% to HKD 12.7; Jiangxi Copper (00358) decreased 3.81% to HKD 40.34; Zijin Mining (02899) declined 3.48% to HKD 39.44.

On the news front, according to data from the London Metal Exchange (LME), copper inventories in tracked warehouses increased by 20,675 tons to 282,200 tons. This is the largest increase since August 2024, and current inventory levels are at a new high since October 2024. During the week of February 27, Shanghai copper inventories significantly accumulated, with weekly stocks rising by 43.69% to 391,529 tons, reaching a near ten-year high.

Orient Securities released a research report stating that industrial metals have seen a significant accumulation during the holiday period, and the upcoming peak season will serve as a test of their strength. In the short term, risk aversion caused by the Israel conflict may impact industrial metal prices, but fundamentally, prices remain anchored by supply and demand. The US January SIM manufacturing PMI rebounded sharply to 52.6, further strengthening expectations of demand support. Domestically, during the Spring Festival, copper and aluminum stocks increased substantially. As production resumes after the holiday, the peak season will be tested, with particular attention to the extent of inventory reduction after the holiday.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.