Cobalt Concept Stocks Drop 3.08%; Zijin Mining Leads RMB 5.285 Billion Net Outflow
The metal cobalt concept sector fell 3.08% at the close on August 11, ranking among the top decliners of concept sectors. Main funds saw a net outflow of RMB 5.285 billion, with Zijin Mining recording the largest outflow of RMB 1.405 billion. Luoyang Molybdenum, Xiamen Tungsten, and Huayou Cobalt also posted significant outflows. Related nonferrous metal sectors, including lead, zinc, and copper, declined 3.32%, 3.07%, and 2.88%, respectively. Despite the overall outflow, a few stocks such as Huaxin Technology and Huahong Technology recorded net inflows.
As of the close on August 11, the metal cobalt concept sector fell 3.08% overall, ranking among the top decliners of concept sectors that day. Several stocks in the sector posted notable declines: Luoyang Molybdenum fell 7.81%, Zijin Mining fell 6.4%, and Pengxin Resources fell 6.46%. During the same period, other nonferrous metal-related concept sectors, including metal lead, metal zinc, and metal copper, also declined by 3.32%, 3.07%, and 2.88%, respectively.
In terms of fund flows, the metal cobalt concept sector saw a total net outflow of RMB 5.285 billion in main funds that day. A total of 27 stocks in the sector experienced net outflows of main funds, with 10 of them seeing net outflows exceeding RMB 100 million. Zijin Mining recorded a net outflow of RMB 1.405 billion, ranking first; Luoyang Molybdenum saw a net outflow of RMB 1.145 billion, Xiamen Tungsten RMB 451 million, Huayou Cobalt RMB 448 million, Xingye Silver Tin RMB 362 million, and China Tungsten High-tech RMB 357 million.
In terms of individual stock trading data, Zijin Mining's turnover rate was 2.17% that day, Luoyang Molybdenum 2.32%, Xiamen Tungsten 4.86%, and Huayou Cobalt 5.95%. China Tungsten High-tech had a relatively high turnover rate of 8.76%, while Pengxin Resources recorded 7.65%. In addition, net outflows of main funds for Zhongjin Lingnan, Shengtun Mining, and Ganfeng Lithium were RMB 209 million, RMB 181 million, and RMB 102 million, respectively.
Despite the overall fund outflow from the sector, some stocks still saw net inflows of main funds. Huaxin Technology recorded a net inflow of RMB 8.0169 million that day, Huahong Technology RMB 5.5412 million, Tianqi Co. , Ltd. RMB 3.6079 million, Hainan Mining RMB 1.3389 million, and Beikuang Technology RMB 1.1152 million.