节点：中游（冶炼、中间品）位置：中游情绪：利好参考度：6/10
2026年3月，标准普尔发布2025年全球主要矿种勘探支出及2026年趋势报告。2025年黄金勘探支出达61.5亿美元，同比增长11%，有史以来第一次占据全球总支出的一半。
大型矿业公司将超三分之二的黄金预算用于矿区勘查和生产增储勘探资产，矿区黄金支出首次超过20亿美元。同期锂矿勘探缩减46%，镍下跌37%，钴下跌41%。
铜是电气化、人工智能数据中心建设和基础设Ɩ..
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