Morgan Stanley: Expects Jiangxi Copper (00358) stock price to rise in the next 60 days, rated as "hold" with a target price of HK$75.

Morgan Stanley released a research report stating that it is expected that the stock price of Jiangxi Copper (00358) in the next 60 days will have a 70% to 80% chance of rising. The rating is "hold" with a target price of HK$75. Morgan Stanley also indicated that as about half of sulfur shipping by sea passes through the Strait of Hormuz, any shipping disruption could put further pressure on the already tight market. Other regions reducing refinery production due to oil shortages will bring more risks, and the fertilizer industry will also compete for limited sulfur supply. As Jiangxi Copper's main by-product in copper smelting is sulfuric acid, the company is expected to benefit from the shortage of sulfur.