Mining & Resources · 2.3

Base Metals

Quantified news impact based on deduplicated, quality-reviewed events in a single 7-day window.

Average net impact+17weighted per event

Average gross impact18absolute weighted average

Events13same period

Confidence81%model average

Raw intensity64before weighting

Previous period+18net impact

Gross change-49%

Diffusion speed1.9 / day

Concentration14%

Direction disagreement3%

Source independence100%7 sources

IMPACT TREND

7-day effective impact

Positive 11 · Negative 1 · Mixed 1

+220-22

27 Jul, 190 events

28 Jul, 095 events

28 Jul, 230 events

+14

29 Jul, 133 events

30 Jul, 030 events

+15

30 Jul, 171 event

31 Jul, 070 events

+11

31 Jul, 211 event

1 Aug, 110 events

2 Aug, 010 events

2 Aug, 150 events

+22

3 Aug, 053 events

Current periodPrevious period

TIME HORIZON

Impact duration

Immediate0%0 cumulative effective impact

Short term74%169 cumulative effective impact

Medium term26%61 cumulative effective impact

Long term0%0 cumulative effective impact

CO-IMPACT

Related industries

EVENT EVIDENCE

Events ranked by effective impact

Page 1 of 2 · 12 events

Macro2

Macro3 Aug, 08:00positive

New Growth Drivers Contribute Over 40% to China's H1 2026 Growth; High-Tech Manufacturing Output Up 13.3%

Preliminary data show new growth drivers, including high-end manufacturing, the digital and intelligent economy, and modern services, contributed more than 40% of China's economic growth in the first half of 2026. Industrial value added above designated size rose 5.4% year on year, while high-tech manufacturing grew 13.3%. Industrial profits totaled RMB 3,947.99 billion in January–June, up 18.7%. Output of 3D printing equipment rose 48.5%, lithium batteries 39.3%, and industrial robots 28.0%. Fostering new growth drivers was made a key 2026 task.

Effective: +63
Intensity: 90
Confidence: 90%
Horizon: Short term

Macro31 Jul, 22:52positive

Shanghai SASAC Promotes Bulk Commodity Trade Development, Guomao Holdings Signs Agreements with SAIC and

Shanghai SASAC held a meeting on July 31 to accelerate high-quality development of bulk commodity trade and build an international trading and investment platform. The meeting emphasized strategic positioning, ecological cooperation, and regulatory services. Guomao Holdings, a municipal state-owned enterprise with 13 billion yuan registered capital established in November 2025, signed framework agreements with SAIC Motor, Shanghai Electric, Shenergy Group, and Shanghai International Port Group to deepen collaboration and build a bulk commodity industrial ecosystem.

Effective: +25
Intensity: 70
Confidence: 80%
Horizon: Medium term

Industries2

Industries30 Jul, 23:16positive

China H1 nonferrous metals output 41.513m tonnes; profit up 94% as AI spurs tin, tantalum, indium price surges

In the first half of 2026, China's output of ten nonferrous metals rose 3.3% year-on-year to 41.513 million tonnes, while profits of industrial enterprises above designated size in the sector jumped 94% to RMB418.39 billion. AI computing infrastructure expansion spurred sharp gains in tin, tantalum and indium, with tin up 40%, tantalum soaring 158% and indium climbing 60%. Copper demand from AI and data centres kept copper prices elevated; global data centre copper consumption is forecast to reach 1.3 million tonnes by 2028. Industry surveys indicate AI servers use three times the tin of conventional units. Leading Chinese tin producers are building closed-loop recycling to boost secondary supply.

Effective: +34
Intensity: 92
Confidence: 90%
Horizon: Short term

Industries29 Jul, 20:09positive

China's Non-Ferrous Metals Output 41.5 Million Tonnes in H1 2026, Revenue RMB5.77 Trillion, Profit Up 94%

In the first half of 2026, building on the first quarter, China's non-ferrous metals industry achieved steady production growth. Output of ten non-ferrous metals totaled 41.513 million tonnes, a year-on-year increase of 3.3%. For 12,362 enterprises above designated size, combined revenue reached RMB5,769.68 billion, up 21.7%, and total profit hit RMB418.39 billion, surging 94% year-on-year.

Effective: +24
Intensity: 85
Confidence: 90%
Horizon: Short term

Companies6

Companies29 Jul, 21:39positive

Multiple Companies Release H1 2026 Results: Western Mining Net Profit Up 123%, Kaimeite Gas Down 60.75%

Several Chinese companies reported first-half 2026 earnings. Western Mining posted net profit of RMB 4.169 billion, up 123% year-on-year, while Kaimeite Gas saw net profit fall 60.75% to RMB 21.92 million. Other firms including Shengtun Mining, Mebon Bond, Lujiazui, Hongfa Technology, Zhongke Environmental, Hanbell Precise Machinery, and Fuman Microelectronics also disclosed results, with most showing growth.

Effective: +15
Intensity: 80
Confidence: 85%
Horizon: Short term

Companies29 Jul, 17:08positive

Western Mining 2026 H1 Net Profit Up 123% on Higher Nonferrous Metal Prices and Output

Western Mining reported 2026 first-half net profit of RMB 4.169 billion, up 123% year-on-year, on revenue of RMB 39.443 billion, up 25%. The growth was driven by rising nonferrous metal prices, with copper prices exceeding RMB 114,000 per tonne and molybdenum concentrate up over 32%. However, investment cash outflow surged 576% to RMB 9.999 billion due to acquisition payments, and asset impairment losses increased sharply. Some mineral output fell short of plan.

Effective: +12
Intensity: 60
Confidence: 80%
Horizon: Short term

Companies28 Jul, 12:50positive

Daoshi Technology 2026 H1 Revenue RMB 4.794 Billion, Net Profit RMB 290 Million, Strategic Resources Up 49%

Daoshi Technology (300409) reported 2026 first-half revenue of RMB 4.794 billion, up 31.21% year-on-year; net profit attributable to shareholders of RMB 290 million, up 25.92%; and non-recurring adjusted net profit of RMB 283 million, up 34.33%. The strategic resources segment drove growth with revenue of RMB 2.586 billion, up 49.31%, accounting for 53.93% of total revenue and achieving a gross margin of 28.25%. The company's cathode copper plant in the Democratic Republic of Congo was 14.32% complete.

Effective: +11
Intensity: 65
Confidence: 80%
Horizon: Medium term

Companies28 Jul, 18:07positive

Hailiang Group to Increase Hailiang Co. Stake with Up to 1 Billion Yuan, Price Cap at 35 Yuan

Hailiang Group, the controlling shareholder of Hailiang Co. , plans to increase its stake in the company over the next six months. The total investment will be no less than RMB 600 million and no more than RMB 1 billion, with the purchase price capped at RMB 35 per share. The stake increase will be executed through centralized bidding and block trading on the stock exchange.

Effective: +10
Intensity: 60
Confidence: 80%
Horizon: Short term

Companies28 Jul, 17:25positive

Guocheng Mining to Buy Back RMB 300-600 Million Shares at up to RMB 45 Each

Guocheng Mining Co. announced a share buyback plan worth between RMB 300 million and RMB 600 million, with a maximum repurchase price of RMB 45 per share. The repurchased shares will be used to fund future employee stock ownership plans or equity incentive programs, as disclosed in a regulatory filing.

Effective: +5
Intensity: 50
Confidence: 80%
Horizon: Short term

Companies28 Jul, 12:05negative

Yinman Mining Accident Kills One; Mining Area Halted, Processing Plant Continues on Surface Ore for 2.5 Months

Yinman Mining, a wholly-owned subsidiary of Xingye Silver Tin, reported a production safety accident at its underground mine on July 26, resulting in one fatality and no injuries. The mining area has been suspended, while the processing plant remains operational. A surface stockpile of 350,000 tonnes of ore can sustain production for about two and a half months. The cause of the accident is under investigation.

Effective: -3
Intensity: 30
Confidence: 70%
Horizon: Short term