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Zijin Mining(2899): delivered significant growth in its first-quarter 2026 results , with revenue reaching RMB 98.5 billion, a year-on-year (YoY) increase of 24.79%. Net profit attributable to shareholders of the listed company was recorded at RMB 20.1 billion, representing an increase of 97.5%. Net cash flow from operating activities surged by 122% to RMB 27.8 billion. Although declining ore grades and increased resource taxes pushed up costs , total profit reached RMB 31.58 billion—more than doubling YoY—as the company benefited from rising major metal prices. Looking ahead, the company maintains its 2026 production targets of 1.2 million tonnes of mined copper and 120,000 tonnes of LCE. It also plans to increase its annual lithium production to a maximum of 320,000 tonnes by 2028. In terms of cost management, the company is mitigating energy cost pressures through multi-sourcing, strategic stockpiling, and gains from by-products like sulfuric acid.

U.S. April headline CPI accelerated to 3.8% YoY

U.S. April headline CPI accelerated to 3.8% YoY, the highest since May 2023 and beating expectations of 3.7%. Core CPI rose to 2.8% YoY, also above the expected 2.7% and the strongest print since last September. The upside surprise has triggered fresh worries that the Fed could be compelled to hike rates again.

The Senate has approved Kevin Warsh to serve as the next Federal Reserve Governor. A final confirmation vote is still needed for him to become Fed Chair.