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    2380   HK2380027329

CHINA POWER INTERNATIONAL DEVELOPMENT LIMITED

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China Power International Development : London copper edges higher after last week's drop

10/04/2021 | 12:26am EST

Oct 4 (Reuters) - London copper rose in thin trade on Monday as some investors bought the metal after last week's sharp drop on concerns over energy prices and economic growth in top consumer China.

Three-month copper on the London Metal Exchange edged up 0.3% to $9,155 a tonne by 0350 GMT, recovering slightly from the previous week's 2.2% fall. Trading volume was low as Chinese markets were closed for a week-long public holiday.

Copper prices were also supported by low warehouse stocks. Inventories in ShFE warehouses <CU-STX-SGH> were at their lowest since June 2009 at 43,525 tonnes, while LME stockpiles <MCUSTX-TOTAL> fell to 217,175 tonnes by Sept. 30, down 14% so far in September, latest exchange data showed.

Widespread power shortage in China has raised concerns of slower growth and muted metals demand in the world's second-largest economy.

LME aluminum advanced 0.5% to $2,871.50 a tonne, nickel increased 0.8% to $18,115 a tonne, zinc was up 1.2% at $3,017 a tonne and lead rose 0.9% to $2,160 a tonne.

FUNDAMENTALS

* An alumina refinery in Jamaica that was damaged by fire and shut down in August is not expected to be back at 100% production for another year, until the end of September 2022, operating partner Noble Group Holdings said on Friday.

* The difference between LME cash nickel and the three-month contract <CMNI0-3> flipped to a discount of $1 a tonne after staying in premium since Aug. 25, indicating easing tightness in nearby inventories.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian shares dipped as concerns about China's property sector and inflation worries offset upbeat U.S. data and positive news on new drugs to fight the coronavirus.

DATA/EVENTS (GMT)

1400 US Factory Orders MM Aug (Reporting by Mai Nguyen in Hanoi; Editing by Subhranshu Sahu)


ę Reuters 2021
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Financials
Sales 2021 34 088 M 5 366 M 5 366 M
Net income 2021 1 506 M 237 M 237 M
Net Debt 2021 101 B 15 869 M 15 869 M
P/E ratio 2021 21,2x
Yield 2021 2,74%
Capitalization 32 986 M 5 182 M 5 192 M
EV / Sales 2021 3,92x
EV / Sales 2022 3,69x
Nbr of Employees 10 413
Free-Float 40,0%
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Number of Analysts 7
Last Close Price 3,36 CNY
Average target price 3,35 CNY
Spread / Average Target -0,41%
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Managers and Directors
Ping Gao President & Executive Director
Xi He Chairman
Fang Li Independent Non-Executive Director
Ka Chi Yau Independent Non-Executive Director
Hon Chung Hui Independent Non-Executive Director