cascadingslotmachinegames| Precious metals index rose nearly 6% Shanghai Bank hit record high China Silver Group rose nearly 50%
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Precious metals and industrial metals sectors led the gains in A sharescascadingslotmachinegames, stock prices and futures prices collectively soared, and many individual stocks rose daily.
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[The precious metals index closed strongly by nearly 6% in early trading] In early trading on May 20, the precious metals sector in the A-share market performed well. Xiaocheng Technology achieved a 20CM daily limit, followed by stocks such as Hunan Silver, Sichuan Gold and Yintai Gold. At the same time, the industrial metals sector also recorded significant increases. Shengda Resources and Northern Copper have traded daily limits. Electrical alloys once hit daily limits, and the final increase reached 19.cascadingslotmachinegames.06%, and stocks such as New Weiling and Shenhuo also recorded good performance. [China Silver Group leads the gains in the Hong Kong stock sector] In the Hong Kong stock market, China Silver Group rose nearly 50%, and the shares of Minmetals Resources and China Gold International also exceeded 6% and 5% respectively. [Gold, silver and copper futures prices rose across the board] In the futures market, the prices of the three major metal varieties, gold, silver and copper, went hand in hand. Shanghai banks rose sharply by 8% and closed the daily limit, setting a new record high. Shanghai gold industry's main trading price rose nearly 3% in consecutive sessions, and the final increase was 2.55%, with a quoted price of 577.36 yuan/gram. Shanghai copper also recorded an intraday increase of more than 6%, reaching a maximum of 88940 yuan/ton. International copper futures hit a daily limit in the main consecutive day, also hitting a record high. In addition, COMEX silver and copper futures prices also set new records, rising nearly 5% and 3% respectively. [Raw material prices rise, Hunan Baiyin responds] Behind the rise in raw material prices, Hunan Baiyin said that due to the recent acquisition of Baoshan Mining, the demand for raw materials has decreased. However, the current high raw material prices, the company is still unable to achieve full production. Demand for outsourced materials still exists. The rise in raw materials has led to an increase in costs, and in the current seller's market environment, procurement difficulties have increased. [Copper prices are expected to remain high due to multiple factors] Ma Jinlong, an analyst at Huachuang Metals, pointed out that favorable domestic real estate policies and rising copper prices in the external market are the main factors driving copper prices higher. North America's COMEX copper inventories are low and deliverable supplies are limited. In addition, the added value of industries above designated size increased by 6.7% year-on-year in April announced by the Bureau of Statistics, indicating that the national economy continues to recover and improve. The adjustment of real estate policies by the central bank and other departments has further supported the rise of SHFE copper futures. [Shangjin Exchange Reminds Market Risk Control] Faced with fluctuations in the futures market, Shangjin Exchange issued a notice emphasizing that market uncertainties have increased, risks have intensified, and price fluctuations have increased significantly. Shanghai Capital Exchange called on all member units to strengthen their awareness of risk prevention, formulate emergency plans, and remind investors to do a good job in risk management, reasonably control positions, and maintain rational investment strategies.
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