Jiangxi Copper Reports 19.53% Revenue Growth and 106.77% Net Profit Surge in H1 2026

South32 released an updated ore reserve and mineral resource estimate (MRE) assessment for the Sierra Gorda copper mine in Chile. The company stated that this update resulted from the success of an infill drilling program, which further refined the geological understanding of the ore body. From 2023 to 2025, the project completed 200 drill holes totaling approximately 85,000 meters.As of the latest assessment on July 31, 2026, ore reserves increased by 61% to 1.1 billion mt, with an average total copper grade of 0.39%, total molybdenum grade of 0.016%, gold grade of 0.06 g/mt, and a copper equivalent grade of 0.46%.

In July 2026, China's wire and cable exports were 277,500 mt, down 7.43% MoM and up 6.62% YoY; cumulative exports from January to July 2026 were 1.8464 million mt, up 9.26% YoY on a cumulative basis. Among them, copper wire and cable exports were 133,100 mt, down 10.67% MoM and up 8.51% YoY; cumulative exports from January to July 2026 were 915,800 mt, up 15.44% YoY on a cumulative basis.

US Fed rate suspense escalates again — Warsh's Jackson Hole debut on 8/28 + PCE finale on 8/26. CME showed a 59.9% probability of maintaining rates in September and a 40.1% probability of a 25bp hike. Warsh will make his first appearance at Jackson Hole at 10 a.m. Eastern Time on 8/28 (dubbed the "Warsh debut" by the market). Since taking office, Warsh has adopted a "quieter Fed" strategy (removing forward guidance, not disclosing the dot plot, and shortening the statement), and Goldman Sachs warned that communication ambiguity would exacerbate market fluctuations. July CPI rose 3.4% YoY (cooling for two consecutive months), while core PCE remained elevated (3.7% YoY in June), with inflation having stayed above the 2% target for five years.