Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Jiangxi Copper Company ( (HK:0358) ) has shared an update.
Jiangxi Copper has issued a supplemental announcement providing additional details on how it set the substantially higher annual caps for its continuing connected transactions with Ordins under newly signed Procurement and Sales Cooperation Framework Agreements. The company explains that the larger caps reflect an anticipated rise in both procurement and sales volumes for a wide range of metals, including offshore and Guangdong cathode copper, crude copper, electrolytic nickel, copper rod, aluminium ingot, zinc, tin and various precious and minor metals, with pricing referenced to benchmarks on the Shanghai Futures Exchange, LME and COMEX and a 1%–5% buffer added for potential price and volume increases; it also expects transaction volumes to remain stable over the next three years, suggesting a planned expansion and deepening of its trading relationship with Ordins while acknowledging that weaker metal prices could leave actual transaction values below the caps.
The most recent analyst rating on (HK:0358) stock is a Buy with a HK$53.00 price target. To see the full list of analyst forecasts on Jiangxi Copper Company stock, see the HK:0358 Stock Forecast page.
More about Jiangxi Copper Company
Jiangxi Copper Company Limited is a major Chinese non-ferrous metals producer, primarily engaged in the production, processing and trading of copper and other base and precious metals, with sales channels that span both domestic markets, such as Guangdong Province, and offshore markets for products including cathode copper, crude copper, electrolytic nickel and related metal products.
Average Trading Volume: 21,721,025
Technical Sentiment Signal: Buy
Current Market Cap: HK$210.4B
Learn more about 0358 stock on TipRanks’ Stock Analysis page.