铜价刚刚经历了有史以来最惨烈的一天。但美国经济疲软再加上大宗商品历史价格走势，这意味着铜价 或许还有进一步下跌的空间。 "商品在高点之后出现剧烈回调是非常普遍的现象。"McGlone指出，"铜在突破5美元之后，为何不能回 到3美元？近二十年来，这个金属的价格大多围绕3美元震荡。" Britannia Global Markets金属主管Neil Welsh表示："这一转变有望为铜市场重新注入一定的确定性，让 市场重新聚焦于基本面，而不是此前以新闻标题为导向的短期交易行为。" 不过，即便市场回归基本面，铜的基本面也显得岌岌可危。尽管铜价近期因电力需求增长而受到提振， 铜仍是最具经济敏感性的商品之一，其走势与中美经济增长前景高度挂钩。 本周早些时候，美联储选择维持利率不变。但在周五就业数据远逊预期后，市场对于9月降息的预期急 剧升温。 从历史价格走势来看，铜价目前的飙升也引发了一些不安。彭博高级商品策略师Mike McGlone指出， 美铜近期走势颇似2008年金融危机前夕的原油。当时原油价格因经济错位快速升至147美元的历史高 位，随后却因房市泡沫破裂跌至32美元。如今油价仍徘徊在68美元左右，仅为当年高点的一 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-14066 SOUTHERN COPPER CORPORATION (Exact name of registrant as specified in its charter) 7310 North 16th St, Suite 135 Pho ...

StoneX Financial高级金属分析师Natalie Scott-Gray评论称，新规定以及对半成品的单纯关注，构成了一个"巨大的市场惊喜"。 本月9日，特朗普曾宣布，将从8月1日起对所有进口到美国的铜征收50%的关税。当时纽约铜期货曾飙升至近6美元的历史高位，引发铜大量涌入美国的抢 运潮，使全球一些最大金属贸易商获得可观利润。 每经编辑｜何小桃 据央视新闻报道，当地时间7月30日，美国白宫表示，美国总统特朗普签署了一项公告，宣布对几类进口铜产品征收关税。 公告显示，将自8月1日起对进口半成品铜产品（例如铜管、铜线、铜棒、铜板和铜管）及铜密集型衍生产品（例如管件、电缆、连接器和电气元件）普遍 征收50%的关税。 白宫表示，铜输入材料（例如铜矿石、精矿、锍铜、阴极铜和阳极铜）和铜废料不受"232条款"或对等关税约束。 根据美国《1962年贸易扩展法》第232条款，美国总统有权出于"国家安全"考虑，采取对进口产品征收关税或设定配额等措施。 当天，在白宫宣布这一关税后，纽约铜价一度暴跌逾18%，至每磅4.60美元。北美最大铜生产商自由港麦克莫兰（Freeport-McMoRan）和南方铜业 （Souther ...

2Q25 RESULTS J U L Y 2 0 2 5 Disclaimer The material in this presentation has been prepared Southern Copper Corporation (SCC) and is general background information about SCC's activities current as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information in this presentation, including financial forecasts, should not be considered as advice or a recommendation to investors or prospective investors in relation to holding, purchasing or selli ...

Exhibit 99.1 Raul Jacob Victor Pedraglio Bertin Galarreta +(602) 264-1375 southerncopper@southernperu.com.pe www.southerncoppercorp.com July 28, 2025 Southern Copper Corporation (NYSE and BVL: SCCO) Molybdenum production registered an increase of 3.5% in 2Q25 compared to 2Q24 as the result of higher production at all our mines, with the exception of La Caridad mine (-0.5%). On a YTD basis, mined zinc production rose 52.9% and mined silver and molybdenum production were up 14.6% and 5.9%, respectively. ● 2Q2 ...

Group 1 - Morgan Stanley downgraded Freeport-McMoRan (FCX.US) and Teck Resources (TECK.US) from "Overweight" to "Hold," with target prices set at $54 and $44 respectively [1] - The performance of copper stocks covered by Morgan Stanley has outpaced LME copper prices by 28 percentage points since April 8, making the risk/reward profile less attractive [1] - Analysts believe Freeport-McMoRan has upside potential due to its exposure to Comex copper and strong gold prospects, but the current risk/reward ratio appears unattractive with few short-term catalysts [1] Group 2 - Morgan Stanley downgraded Southern Copper (SCCO.US) from "Hold" to "Underweight," setting a target price of $99, citing that the stock's valuation seems high relative to historical averages and industry peers [2] - The firm also downgraded Nexa Resources (NEXA.US) from "Hold" to "Underweight," with a target price of $5, due to pessimistic expectations regarding zinc prices and operational issues affecting production targets [2]

Southern Copper (SCCO) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stoc ...

Core Viewpoint - Southern Copper's stock performance has shown a decline recently, with a notable drop compared to major indices, while the company is expected to report lower earnings and revenue in the upcoming earnings release [1][2]. Company Performance - Southern Copper's stock closed at $104.51, reflecting a -1.28% change from the previous day, underperforming the S&P 500, which lost 0.79% [1]. - Over the past month, shares of Southern Copper have gained 10.69%, outperforming the Basic Materials sector's gain of 4.52% and the S&P 500's gain of 5.22% [1]. Earnings Expectations - The upcoming earnings report is anticipated to show an EPS of $1.09, which is a decrease of 10.66% from the same quarter last year [2]. - The Zacks Consensus Estimate for revenue is projected at $2.9 billion, down 6.86% from the previous year [2]. - Full-year estimates predict earnings of $4.75 per share and revenue of $12.21 billion, indicating year-over-year increases of +9.7% and +6.82%, respectively [3]. Analyst Estimates - Changes in analyst estimates for Southern Copper are crucial as they reflect the shifting dynamics of business performance [4]. - The Zacks Rank system, which incorporates these estimate changes, currently ranks Southern Copper at 3 (Hold) [6]. Valuation Metrics - Southern Copper has a Forward P/E ratio of 22.3, which is lower than the industry average of 23.25 [7]. - The company has a PEG ratio of 2.37, compared to the Mining - Non Ferrous industry's average PEG ratio of 0.89 [8]. Industry Context - The Mining - Non Ferrous industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 69, placing it in the top 28% of all industries [9].

F E B R U A R Y 2 0 2 5 4Q24 RESULTS Disclaimer The material in this presentation has been prepared Southern Copper Corporation (SCC) and is general background information about SCC's activities current as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information in this presentation, including financial forecasts, should not be considered as advice or a recommendation to investors or prospective investors in relation to holding, purchasing ...

Financial Performance - Net sales increased by 36% from $2301 million in 2Q23 to $3118 million in 2Q24[23, 25] - EBITDA increased by 61% from $1116 million in 2Q23 to $1797 million in 2Q24[23, 26] - Net income increased by 74% from $548 million in 2Q23 to $950 million in 2Q24[23, 28] - Cash cost decreased by 32% from $112 in 2Q23 to $076 in 2Q24[23] Production - Copper production increased by 7% from 227,534 tons in 2Q23 to 242,474 tons in 2Q24[19] - Silver production increased by 8% from 48 million ounces in 2Q23 to 52 million ounces in 2Q24[21] - Molybdenum production increased by 21% from 6334 tons in 2Q23 to 7654 tons in 2Q24[21] - Zinc production increased significantly by 71% from 17,223 tons in 2Q23 to 29,419 tons in 2Q24[21] Market Outlook and Dividends - The company expects a market deficit in 2024, driven by strong demand and new technologies, but notes weakness in China's real estate sector and a resilient US economy[15] - The company announced dividends, reflecting its commitment to shareholder returns[38, 40] ESG Initiatives - The company is committed to improving its ESG record, including reducing CO2 emissions by approximately 250,000 tons per year, equivalent to 7% of SCC's carbon footprint, through the use of eolic energy[32, 33]