On October 9, ZIJIN MINING rose 3.01% in regular trading, trading at HK$32.18 with turnover of approximately HK$490 million. The advance was underpinned by a firm copper price backdrop and the company's reaffirmed production guidance.

ZIJIN MINING maintained its full-year copper output target of 1.2 million tonnes, with the Julong copper mine's Phase II ramp-up progressing well as the primary near-term growth driver. Recent disclosure data showed several major international banks adjusting their long positions in the H-share during late September, reflecting portfolio rebalancing rather than uniform directional conviction.

Analyst commentary following site visits to the Julong mine reiterated a Buy rating with a target price of HK$57.80, citing the operation as the largest source of copper volume growth for 2026 and 2027. Broader market reports also highlighted historically tight global exchange copper inventories, lending support to copper-related equities.

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