On August 31, MMG fell 3.47% in regular trading, trading at HK$9.21/share, with turnover of HK$38.12 million. The decline came amid broad-based weakness across the diversified metals and mining sector, driven by copper price retreats and rising inventories.

On the news front, LME copper inventories ended a consecutive 42-day drawdown and turned higher, while domestic electrolytic copper social inventories also rose week-over-week. The fading of the prior squeeze logic weighed on copper prices, with both SHFE copper and LME copper exhibiting a pattern of rallying to highs before pulling back. LME copper inventory stood at approximately 239,000 tons, up 16.39% week-over-week, while domestic social copper inventory reached 134,000 tons, up 15.17%.

Within the Diversified Metals and Mining sector, the broader selloff was pronounced. Among individual stocks, ZIJIN MINING fell 4.44%, CMOC fell 4.18%, WANGUO GOLD GP fell 4.04%, JIAXIN INTL RES fell 6.25%, and LYGEND RESOURCE fell 1.61%. Separately, the Las Bambas mine resumed operations on August 21 following a brief safety-related shutdown, removing a prior supply-tightening catalyst that had supported copper sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)