Author: I love watching fools
Let me list some numbers for you: Zijin's copper equity reserves in 2020 are 62 million tons, accounting for 55% of the total domestic reserves , copper concentrate output is 450,000 tons, the largest in China. Copper resources and output are the largest in the country.
But today, the three coppers - Jiangxi Copper rose 9.5%, Yunnan Copper rose 5.8%, Tongling rose 6.9%, what about Zijin? 2.8%.
I can responsibly say that 99% of the people who buy and sell these tickets are people who don’t even understand mining, processing and smelting. They don’t know that Zijin’s self-sufficiency rate is nearly 80%, while none of Three Copper’s self-sufficiency rates is to 20%.
The price of copper has increased. The profit comes from the upstream mining and processing. The product is copper concentrate; while the midstream smelting costs the cost of rough processing TC and finishing RC. What is the concept?
It means that the price of copper has increased. , supply was in short supply, and TC/RC fell instead.
Therefore, as the leading stock of copper, the third copper has indeed confirmed that the market is ineffective most of the time. Just like when Trump came to power, Sichuan University outsmarted 's daily limit; Wang Baoqiang's wife cheated, and Hongxing shares hit the daily limit. Is
funny? It's really interesting.
My theory is that stocks and companies are actually two different things. The value of the company itself is only one dimension that affects the stock price. Stock prices are still determined by consensus. The first principle of economics is that prices are determined by supply and demand. When the reason for reaching a consensus on the spot is like that of a fool, it is also the consensus of the fool that determines the spot stock price. This consensus may be that Trump has greatly outsmarted Hillary , or it may be that 1,000 fools are counting the waves at the same time.
Thoughts at the end of the article:
Within the same sector, the order of rise and fall is different, and it does not mean that which one is the most authentic has the best rise. Equity, performance flexibility, and plate size will affect the startup sequence.
The last and most authentic copper mining stock, if other targets in the sector create space, then the leading stocks of stagflation will undoubtedly make up for the increase, and the certainty will be stronger.
