Jiangxi copper Industry fell 3.5% Shenwan reiterated buy 15.4 yuan

Jiangxi Copper shares fell 3.46% to HK $10.6 and traded 10.66 million shares in a notable fall in the market this morning.　　Wanguo issued a report saying the purchase rating of the unit was maintained, with a target price of HK $15.4, which was 45% higher than the market price. Wanguo, the 2009 copper price forecast to 38,500 yuan/ton (including tax price), compared to the previous forecast up 20%. Corresponding to Jiangxi Copper in 2009, 2010 earnings per share increase to 0.59 yuan and 0.92 yuan. It is said that the upstream capacity limit and the shortage of copper scrap supply are difficult to ease in the short term, which can effectively restrain the rapid release of smelting capacity downstream, and the rapid release of the downstream demand of copper metal; the stockpiling by the China National Reserve Bureau will be carried out; a growing money supply will boost global inflation expectations