节点:中游(冶炼、中间品)位置:中游情绪:利空参考度:4/10
必和必拓(BHP)公布2026年第一季度(澳大利亚财年第三季度)铜生产经营报告。数据显示,一季度铜产量47.68万吨,同比减少7%,环比减少3%;2026财年前三季度(2025年7月至2026年3月)累计产量146.1万吨,同比减少3%。销量方面,一季度铜销量46.87万吨,同比减少12%,环比减少7%;前三季度累计销量142.2万吨,同比减少7%。2026财年(2025年7月至2026年6月)铜产量指导目标维持190-200万吨不变。
各主要铜矿生产情况如下:智利Escondida铜矿一季度产量30.32万吨,同比减少9%,环比减少4%,主因选矿厂给矿品位计划性降至0.91%(2025财至今为1.05%),但创纪录采掘物料量、选矿厂处理量及回收率提升(含新型药剂引入)部分抵消该影响;财年产量指导维持120-127.5万吨。
智利Pampa Norte铜矿一季度产量4.46万吨,同比减少34%,环比减少23%,因选矿厂和阴极厂面临矿石复杂性、品位波动ŏ..
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