China Nonferrous Mining Corp. (1258.HK) announced a robust profit forecast for the first quarter of 2026, projecting a 63% surge in earnings to approximately $201 million compared to the prior-year period, driven by a strong copper market.
"The expected increase in profit is mainly attributable to the benefit of the rising price of international copper, as well as the increase in sales volume and average selling price of sulfuric acid," the company said in a filing.
According to the announcement, the group’s production of cathode copper rose 10% year-over-year to 38,635 tonnes. In contrast, output of blister and anode copper saw a 7% decline to 102,061 tonnes. The most significant shift came in its cobalt operations, where production of cobalt contained in cobalt hydroxide plummeted 81% to just 43 tonnes, achieving only 7% of its annual production guidance.
The divergent results highlight a broader trend in the commodities sector, where strength in copper is helping miners offset significant weakness in other metals. While record copper prices provide a powerful tailwind, the sharp drop in cobalt output reflects persistent headwinds in the battery metals market, including logistical challenges and shifting demand dynamics noted in recent industry reports. For China Nonferrous, the strong performance in its core copper and acid segments is currently overriding the steep production fall in its cobalt business.
This article is for informational purposes only and does not constitute investment advice.
