Core Insights - Solis Minerals Limited has applied for additional exploration concessions surrounding the Cucho Copper Project in Peru, expanding its footprint in a significant copper district [2][6]. Company Developments - The CEO of Solis Minerals, Mitch Thomas, emphasized that the application for additional concessions is a strategic move to strengthen the company's position in a world-class copper district, with active participation from major players like Fortescue, Element 29, and Vale [3][6]. - The company is currently drilling at Ilo Este and has plans to commence drilling at Cinto in December 2025, Cucho in Q2 2026, and Canyon in Q3 2026 [3][20]. Exploration Activities - Solis Minerals has submitted applications for 4,000 hectares of exploration concessions adjacent to Cucho, enhancing access to additional exploration acreage [6]. - The company is progressing with permitting and drill planning for Cucho, with approximately 20 drill pads planned to target high-priority geophysical and geochemical anomalies [11][12]. - The Ficha Técnica Ambiental (FTA) permitting process has begun, expected to take about five to six months, with active engagement with local stakeholders to ensure timely approvals [12]. Geological Insights - Detailed geological modeling is being advanced using historical surface and drilling data to refine the understanding of mineralization controls and identify prospective zones for resource definition drilling [13]. - The exploration program aims to accelerate Cucho towards a potential maiden JORC resource estimate in 2026 [13]. Regional Context - The Cucho Project is strategically located near other significant copper projects, including Elida, which has an inferred resource of 321 million tonnes at 0.32% Cu, 0.03% Mo, and 2.61 g/t Ag [7][10]. - Vale's Umami project and Alpayana S.A.'s Antarumi project are also in proximity, indicating a competitive exploration environment in the region [8][9].

Report Industry Investment Rating No relevant content provided. Core View of the Report - The iron ore price is under pressure due to the suppression of industrial chain profits and is expected to fluctuate at a low level. Although the downward space for downstream steel mill profits is limited and the iron water output has shown a downward inflection point, the strengthening of the coking coal and coke sectors has further eroded the industrial chain profits. However, potential macro - level positive factors may still materialize, so the iron ore price should be treated as fluctuating [3][5]. Summary by Directory Supply - Overseas shipments are relatively high year - on - year. Australian high - frequency shipment data shows both year - on - year and month - on - month increases. The global shipment volume in the recent week was 3333.5 million tons, a month - on - month increase of 126.0 million tons and a year - on - year increase of 446.2 million tons. Australian shipments were 1915.6 million tons, a month - on - month increase of 61.6 million tons and a year - on - year increase of 184.0 million tons. Brazilian shipments were 824.3 million tons, a month - on - month increase of 11.8 million tons and a year - on - year increase of 95.2 million tons. The shipments of Rio Tinto and Fortescue to China have increased significantly recently [4][5][15]. - Among non - mainstream mines, South African shipments have shown a seasonal decline. The capacity utilization rate of domestic mines in the southwest region has rebounded, bringing the overall operation back to a relatively normal level [20][27]. Demand - The iron water output has shown a downward trend at the inflection point, and the port cargo clearance volume has also declined recently. The iron water output of 247 enterprises was 239.90 million tons, a month - on - month decrease of 1.05 million tons but a year - on - year increase of 5.54 million tons. Recently, the price fluctuations of scrap steel and iron ore have been narrow, and the scrap - iron price difference has basically remained flat [4][29][33]. Inventory - The accumulation speed of port inventory has accelerated. The inventory of imported iron ore at 45 ports was 14423.6 million tons, a month - on - month increase of 145.3 million tons and a year - on - year decrease of 845.5 million tons [4][37][39]. Contract and Price Performance - The price of the main 01 contract fluctuated weakly, closing at 771.0 yuan/ton, with a position of 566,000 lots, an increase of 20,200 lots. The average daily trading volume was 281,000 lots, a week - on - week decrease of 88,200 lots. The spot price basically remained flat week - on - week [7][11]. Downstream Profit - The prices of coking coal and coke have rebounded, and the paper profit has been revised downwards [41]. Spot Category Spread - The inventory of fine ore has decreased recently, and the spread between PB lump and PB fine has slowly narrowed [43]. Futures Month Spread - The recent month spread has been relatively stable [48]. Basis Performance - The recent changes in futures and spot prices have been relatively consistent, and the basis has basically remained flat week - on - week [52].

Core Insights - Vale S.A. reported strong operational performance in fiscal Q3 2025, with production reaching its highest level since 2018 in Iron Ore and improved price realization [1][2] - The company experienced year-over-year growth in Copper driven by Salobo, and Nickel production increased significantly due to operational advancements at Sudbury and Onça Puma [2][3] - Iron ore production totaled 94.4 million tons, a 4% increase year-over-year, while iron ore sales rose 5% to 86.0 million tons [3] Production and Sales Performance - Iron ore production reached 94.4 million tons, up 4% year-over-year, supported by key project ramp-ups and a new quarterly record at S11D [3] - Iron ore sales increased by 5% year-over-year to 86.0 million tons, indicating strong demand [3] - Copper production totaled 90.8 thousand tons, reflecting a 6% year-over-year increase [3] Business Segments - Vale S.A. operates in multiple segments, including Energy Transition Materials, Iron Solutions, and Coal and Others, producing and exporting pellets, iron ore, manganese, and iron alloys [3]

Industry Investment Rating - No relevant content found Core Viewpoints - No relevant content found Summary by Directory Second Part: Q2 Global Iron Ore Production and Sales Combing - The report presents multiple graphs related to the production and sales of four major global mining companies including VALE, Rio Tinto, BHP, and FMG [5][16][27][31] - For VALE, there are graphs showing production and sales statistics, sales by variety, production and sales of the S11D mining area, and production share by region [6][12] - For Rio Tinto, graphs display overall production and sales, production and sales of PB powder, and production and sales shares by variety [16][21] - For BHP, there are graphs about production and sales and production share by mining area [27] - For FMG, graphs show production and sales and the production of the Iron Bridge project [31]

1. Report Industry Investment Ratings No specific industry investment ratings were provided in the report. 2. Core Views of the Report - Gold is in a corrective phase, with potential for further downside but increasing interest from bottom - fishing funds. The market is awaiting the results of Sino - US negotiations and APEC meetings, as well as US CPI data [12]. - The stock market was boosted by expectations of incremental policies from the Fourth Plenary Session, but trading volume declined slightly. Industrial policies will remain the focus, and there is a need to strengthen domestic demand expansion [2]. - The decline in US banking reserves provides a basis for the Fed to stop shrinking its balance sheet, leading to an increase in market risk appetite and a volatile US dollar [16]. - Intel's improved financial results have boosted the technology sector, and Sino - US trade negotiations have increased market risk appetite. However, the negotiation process may be bumpy, and market volatility may remain high [22]. - The bond market may face short - term downward pressure, but the risk of continuous decline is low. After November, there is potential for the bond market to rise. Investors are advised to look for opportunities to buy on dips [25]. - The price of cotton is affected by factors such as new cotton listings, downstream orders, and Sino - US trade negotiations. The upside space is limited [30]. - Concerns about palm oil supply in Indonesia have led to a rebound in prices, and investors are advised to buy on dips [33]. - The pig market is expected to experience seasonal demand improvement, but the supply surplus will continue until the first quarter of next year. Investors are advised to look for short - selling opportunities in the near - term contracts [34]. - The price of red dates is in a volatile state, and investors are advised to wait and see, focusing on price negotiations and acquisition progress in the production areas [38]. - The price of thermal coal is expected to be strongly supported due to the approaching cold wave in the north [40]. - The price of iron ore is expected to remain weakly volatile, with a seasonal increase in supply and pressure on demand [41]. - The price of steel products is expected to be volatile, with inventory reduction alleviating concerns about oversupply but limited demand restricting the upside space [44]. - The price of copper is supported by short - term macro - sentiment improvement but limited by fundamentals in the short term. Investors are advised to buy on dips [49]. - The price of lead is expected to remain high and volatile. Investors can consider short - selling on rallies, as well as mid - term spread and cross - market arbitrage opportunities [53]. - The price of zinc is expected to be in a wide - range volatile state. Investors are advised to wait and see, and consider mid - term positive spread arbitrage opportunities [58]. - The price of nickel is expected to have upward potential. Investors can look for opportunities to buy on dips and consider option strategies [61]. - The price of lithium carbonate is supported by inventory reduction during the peak season, but further upward movement depends on supply - side disruptions. Short - term range trading is recommended, and attention should be paid to arbitrage opportunities [64]. - The price of liquefied petroleum gas is expected to remain volatile in the short term [67]. - The price of asphalt is expected to fluctuate greatly due to the game between geopolitical support for oil prices and weak fundamentals [68]. - The price of methanol is currently supported by cost and downstream factors, but the fundamentals have not improved. If the price rises further, there may be short - selling opportunities [72]. - The price of natural gas is in a bearish pattern, and the current rebound is expected to be short - lived. Investors are advised to wait and see [73]. - The supply - demand pattern of caustic soda is weak, but the large discount on the futures market and potential demand pulses from new alumina capacity may limit the downside. Short - selling should be cautious [76]. - The price of PVC is expected to remain in a low - level volatile state, with limited further downward space [78]. - The price of styrene has rebounded due to supply disruptions and rising oil prices. Attention should be paid to the negative feedback from downstream industries and the potential reduction of the pure benzene - oil price spread [80]. - The price of soda ash is supported by coal prices in the short term, but the upside is limited by new capacity. The downward space depends on coal price fluctuations and new capacity launches [82]. - The price of float glass has risen slightly due to coal - price - driven bullish sentiment, but the market is under pressure due to continuous inventory accumulation and weak demand [83]. 3. Summaries by Directory 3.1 Financial News and Comments 3.1.1 Macro Strategy (Gold) - News: Sino - US trade negotiations will be held in Malaysia from October 24 - 27 [12]. - Comment: Gold prices rebounded slightly but are still in a corrective phase. The market is awaiting negotiation results and APEC meetings, as well as US CPI data. - Investment Advice: Gold is expected to be in an oscillatory phase with potential for further downside. Observe the support at the $4000 level [12]. 3.1.2 Macro Strategy (Foreign Exchange Futures - US Dollar Index) - News: US Senate Democrats blocked a Republican bill to pay military and federal employees during the government shutdown; US banking reserves decreased to $2.93 trillion; Trump plans to expand drug - fighting targets to land [13][14][15]. - Comment: The decrease in US banking reserves provides a basis for the Fed to stop shrinking its balance sheet, leading to increased market risk appetite and a volatile US dollar [16]. - Investment Advice: The US dollar index is expected to be volatile [17]. 3.1.3 Macro Strategy (Stock Index Futures) - News: Sino - US will hold trade talks in Malaysia from October 24 - 27; the Fourth Plenary Session of the 20th CPC Central Committee released its communique [18][19]. - Comment: The stock market was boosted by policy expectations, but trading volume declined slightly. Industrial policies will be the focus, and domestic demand expansion needs to be strengthened [2]. - Investment Advice: Allocate evenly among stock indices [20]. 3.1.4 Macro Strategy (US Stock Index Futures) - News: Sino - US will hold trade talks; Intel's Q3 revenue increased by 3% year - on - year, and it returned to profitability [22]. - Comment: Intel's results improved the technology sector, and Sino - US negotiations increased market risk appetite. However, the negotiation process may be bumpy, and market volatility may remain high [22]. - Investment Advice: The US stock market will be volatile in the short term due to Sino - US negotiation news but should be treated with a bullish outlook overall [23]. 3.1.5 Macro Strategy (Treasury Bond Futures) - News: The Fourth Plenary Session of the 20th CPC Central Committee released its communique; the central bank conducted 7 - day reverse repurchase operations worth 212.5 billion yuan [24]. - Comment: The bond market may face short - term downward pressure, but the risk of continuous decline is low. After November, there is potential for the bond market to rise [25]. - Investment Advice: Look for opportunities to buy on dips [26]. 3.2 Commodity News and Comments 3.2.1 Agricultural Products (Cotton) - News: EU clothing import growth declined in August; CCI cotton procurement in India is accelerating; Xinjiang cotton purchase prices are rising [27][29][30]. - Comment: The price of cotton is affected by new cotton listings, downstream orders, and Sino - US trade negotiations. The upside space is limited [30]. - Investment Advice: The upside space of Zhengzhou cotton is limited. Monitor new cotton acquisitions, downstream orders, and Sino - US negotiations [31]. 3.2.2 Agricultural Products (Soybean Oil/Rapeseed Oil/Palm Oil) - News: The Indonesian military seized palm plantations, affecting 30% of the country's palm oil - growing area [32]. - Comment: Concerns about palm oil supply in Indonesia have led to a rebound in prices [33]. - Investment Advice: Buy on dips [33]. 3.2.3 Agricultural Products (Pigs) - News: Wens Co., Ltd. reported a net profit of 5.256 billion yuan in the first three quarters; Tangrenshen is implementing its production plan [33][34]. - Comment: Seasonal demand improvement may lead to a short - term rebound in pig prices, but the supply surplus will continue until the first quarter of next year [34]. - Investment Advice: Look for short - selling opportunities in the near - term contracts and continue to monitor the reverse spread strategy [35]. 3.2.4 Agricultural Products (Red Dates) - News: The price of red dates in Hebei's Cui'erzhuang market is stable; Xinjiang red dates are in the drying stage, and the acquisition price will be determined in the next week [36][37]. - Comment: The price of red dates is in a volatile state, and the main trading logic is not clear [38]. - Investment Advice: Wait and see, and focus on price negotiations and acquisition progress in the production areas [39]. 3.2.5 Black Metals (Thermal Coal) - News: National railway coal shipments reached 1.553 billion tons from January to September [40]. - Comment: The price of thermal coal is expected to be strongly supported due to the approaching cold wave in the north [40]. - Investment Advice: The price of thermal coal is expected to be strongly supported [40]. 3.2.6 Black Metals (Iron Ore) - News: FMG's iron ore production in Q3 2025 was 50.8 million tons, with a 7% quarterly decline and a 6% annual increase [41]. - Comment: The price of iron ore is expected to remain weakly volatile, with a seasonal increase in supply and pressure on demand [41]. - Investment Advice: The price of iron ore is expected to remain weakly volatile and is relatively weak in the sector [41]. 3.2.7 Black Metals (Rebar/Hot - Rolled Coil) - News: China's rebar production in the first three quarters was 143.387 million tons; the inventory of five major steel products decreased by 2.741 million tons last week [42][43]. - Comment: The price of steel products is expected to be volatile, with inventory reduction alleviating concerns about oversupply but limited demand restricting the upside space [44]. - Investment Advice: Adopt a volatile trading strategy for steel prices [45]. 3.2.8 Non - Ferrous Metals (Alumina) - News: Century Aluminum's smelter in Iceland shut down temporarily due to a power equipment failure, affecting about 2 million tons of alumina demand annually [45]. - Comment: The overseas smelter shutdown has affected alumina demand, and the market is under pressure [45]. - Investment Advice: Wait and see [46]. 3.2.9 Non - Ferrous Metals (Copper) - News: A French highway tested the "charging - while - driving" technology for electric vehicles; Vale plans to invest 70 billion reais to expand copper production [47][48]. - Comment: The price of copper is supported by short - term macro - sentiment improvement but limited by fundamentals in the short term [49]. - Investment Advice: Buy on dips [49]. 3.2.10 Non - Ferrous Metals (Lead) - News: The number of car trade - in subsidy applications in 2025 exceeded 10 million; Qingyuan offers a 500 - yuan subsidy for electric bicycle trade - ins [50][51]. - Comment: The price of lead is expected to remain high and volatile. Investors can consider short - selling on rallies, as well as mid - term spread and cross - market arbitrage opportunities [53]. - Investment Advice: Short - sell on rallies, and consider mid - term spread and cross - market arbitrage opportunities [53]. 3.2.11 Non - Ferrous Metals (Zinc) - News: Boliden's Q3 2025 lead - zinc concentrate production increased; the number of car trade - in subsidy applications in 2025 exceeded 10 million [55][56]. - Comment: The price of zinc is expected to be in a wide - range volatile state. Investors are advised to wait and see, and consider mid - term positive spread arbitrage opportunities [58]. - Investment Advice: Wait and see, and consider mid - term positive spread arbitrage opportunities [58]. 3.2.12 Non - Ferrous Metals (Nickel) - News: Australia's Western Mines Group is conducting a general study on its Mulga Tank nickel project [59]. - Comment: The price of nickel is expected to have upward potential. Investors can look for opportunities to buy on dips and consider option strategies [61]. - Investment Advice: Look for opportunities to buy on dips and consider option strategies [61]. 3.2.13 Non - Ferrous Metals (Lithium Carbonate) - News: Do - fluoride plans to ship 30GWh of lithium batteries in 2026; EVE Energy's power battery shipments in the first three quarters of 2025 were 34.59GWh [62][63]. - Comment: The price of lithium carbonate is supported by inventory reduction during the peak season, but further upward movement depends on supply - side disruptions. Short - term range trading is recommended, and attention should be paid to arbitrage opportunities [64]. - Investment Advice: Short - term range trading, and pay attention to arbitrage opportunities [64]. 3.2.14 Energy Chemicals (Liquefied Petroleum Gas) - News: China's weekly liquefied petroleum gas production decreased by 2.65% week - on - week; the inventory rate decreased by 0.39 percentage points [65][66]. - Comment: The price of liquefied petroleum gas is expected to remain volatile in the short term [67]. - Investment Advice: The price is expected to remain volatile in the short term [67]. 3.2.15 Energy Chemicals (Asphalt) - News: China's weekly asphalt production decreased by 110,000 tons week - on - week, a 2% decline [68]. - Comment: The price of asphalt is expected to fluctuate greatly due to the game between geopolitical support for oil prices and weak fundamentals [68]. - Investment Advice: Wait and see [69]. 3.2.16 Energy Chemicals (Methanol) - News: Iran's Kimiya methanol plant restarted [70]. - Comment: The price of methanol is currently supported by cost and downstream factors, but the fundamentals have not improved. If the price rises further, there may be short - selling opportunities [72]. - Investment Advice: Wait and see. If the price rises further, there may be short - selling opportunities [72]. 3.2.17 Energy Chemicals (Natural Gas) - News: US natural gas inventory increased by 87Bcf week - on - week [73]. - Comment: The price of natural gas is in a bearish pattern, and the current rebound is expected to be short - lived [73]. - Investment Advice: Wait and see [74]. 3.2.18 Energy Chemicals (Caustic Soda) - News: The price of liquid caustic soda in Shandong decreased locally; the overall开工 load rate increased slightly [75]. - Comment: The supply - demand pattern of caustic soda is weak, but the large discount on the futures market and potential demand pulses from new alumina capacity may limit the downside. Short - selling should be cautious [76]. - Investment Advice: Short - selling should be cautious [76]. 3.2.19 Energy Chemicals (PVC) - News: The price of PVC in the domestic market was slightly volatile, and the overall开工 load rate decreased [77][78]. - Comment: The price of PVC is expected to remain in a low - level volatile state, with limited further downward space [78]. - Investment Advice: The price is expected to remain in a low - level volatile state, with limited further downward space [78]. 3.2.20 Energy Chemicals (Styrene) - News: China's weekly styrene production decreased by 124,000 tons week - on - week, a 3.65% decline [79]. - Comment: The price of styrene has rebounded due to supply disruptions and rising oil prices. Attention should be paid to the negative feedback from downstream industries and the potential reduction of the pure benzene - oil price spread [80]. - Investment Advice: Monitor the negative feedback from downstream industries and the potential reduction of the pure benzene - oil price spread [80]. 3.2.21 Energy Chemicals (Soda Ash) - News: The inventory of soda ash manufacturers decreased slightly on Thursday compared to Monday [81]. - Comment: The price of soda ash is supported by coal prices in the short term, but the upside is limited by new capacity. The downward space depends on coal price fluctuations and new capacity launches [82]. - Investment Advice: The downward space depends on coal price fluctuations and new capacity launches. Continue to monitor [82]. 3.2.22 Energy Chemicals (Float Glass) - News: The inventory of float glass manufacturers continued to increase, with a 3.64% week - on - week increase [83]. - Comment: The price of float glass has risen slightly due to coal - price - driven bullish sentiment, but the market is under pressure due to continuous inventory accumulation and weak demand [

淡水河谷日前发布三季度产销量报告。报告显示，三季度公司运营业绩强劲，铁矿石、铜、镍三项业务 均朝着2025年产量指导区间的上限推进。 报告指出，铁矿石产量达到2018年以来最高水平，价格实现亦有所改善，反映出公司产品组合战略的成 功实施。 三季度，铁矿石产量总计9440万吨，同比增长340万吨，增幅为4%，这得益于S11D矿区创下季度产量 新高，以及重点项目持续达产。铁矿石销量达到8600万吨，同比增长420万吨，增幅为5%。 价格实现同时改善，主要得益于铁矿石粉矿溢价增长(环比增长1.8美元/吨)。球团产量总计800万吨，同 比减少240万吨，减幅为23%。 在铜和镍业务方面，萨洛博等运营区实现同比增长，多金属资产表现稳健，为后续季度的产量增长奠定 了基础。 ...

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - Geopolitical tensions are easing, and there are expectations of improved terminal demand for steel, leading to a price rebound. However, caution is needed as steel mill profits are still declining. The path to profit recovery will determine the price rebound rhythm. If it's through raw material price cuts, the negative feedback will be greater and the price increase will be more tortuous. If it's due to significantly improved terminal demand, the price increase will be smoother. Without trade conflict disruptions, the latter is more likely [9]. 3. Summary by Directory 3.1 Market Review and Outlook - **Futures Market**: On October 22, the main contracts of rebar and hot-rolled coil futures 2601 fluctuated upwards, reaching the highest closing price in the past 7 trading days. The rebar RB2601 closed at 3068 yuan/ton, up 0.59%; the hot-rolled coil HC2601 closed at 3247 yuan/ton, up 0.81% [5]. - **Spot Market**: On October 22, the prices of individual rebar and hot-rolled coil spot markets rebounded. The rebar prices in Hefei, Zhengzhou, and Nanning rose by 10 - 30 yuan/ton; the hot-rolled coil prices in Hangzhou, Guangzhou, and Wuxi rose by 10 - 20 yuan/ton, while the price in Shijiazhuang fell by 30 yuan/ton [7]. - **Technical Analysis**: The daily KDJ indicators of the rebar 2601 and hot-rolled coil 2601 contracts showed a divergent upward trend after a golden cross on October 20 and 21 respectively. The daily MACD green bars of both contracts have been significantly narrowing for 3 consecutive trading days [7]. - **Outlook**: Geopolitical tensions are easing, and there are expectations of improved terminal demand for steel. However, steel mill profits are still declining. The path to profit recovery will determine the price rebound rhythm [9]. 3.2 Industry News - **Company News**: Anyang Iron and Steel announced that its subsidiary, Henan Angang Zhoukou Iron and Steel Co., Ltd., plans to increase its registered capital by no more than 1 billion yuan through equity financing, and Anyang Iron and Steel intends to waive its pre - emptive right [10]. - **Coal Market**: Domestic thermal coal prices have risen sharply. As of October 17, 2025, the price of Qinhuangdao Port Q5500 thermal coal was 748 yuan/ton, up 43 yuan/ton week - on - week. The price increase in production areas was even greater. The winter heating season may start early, and the thermal coal consumption is expected to support coal prices. The target price of thermal coal for the year has been raised to 750 - 800 yuan/ton [10]. - **International Trade**: The EU Commission has made a positive anti - dumping final ruling on steel track shoes originating from China, with an anti - dumping tax of 62.5% [10]. - **Company Performance**: Brazil's Vale's iron ore production in Q3 reached 94.4 million tons, a year - on - year increase of 3.8%. It is expected to achieve its 2025 production target. The sales volume of iron ore pellets increased by 5.1% year - on - year, and the price of iron ore powder rose by 4.2% [11]. - **Coal Trade**: In August 2025, Australia's coal export value was 5.425 billion Australian dollars, a month - on - month increase of 1.35% but a year - on - year decrease of 26.53%. From January to August, the cumulative export value was 41.379 billion Australian dollars, a year - on - year decrease of 29.20%. From April to August this year, India's coal imports were 118 million tons, a 2.57% decrease compared to the same period last year [11][12]. 3.3 Data Overview - The report provides multiple data charts, including the social inventory of rebar and hot - rolled coil in major cities, the weekly output of five major steel products, the steel mill inventory of five major steel products, the blast furnace and electric furnace operating rates and capacity utilization rates, the national daily average pig iron output, the apparent consumption of five major steel products, and the basis between Shanghai rebar and hot - rolled coil spot and January contracts [16][20][23][27][29].

Market Expectations & Fiscal Policy - The market anticipates Finance Minister Fernando Haddad's announcement of fiscal measures [1] Company Performance - Vale's iron ore production surpasses projections [1] Financial Impact - Netflix experiences a profit decline due to the impact of a tax dispute in Brazil [1]

淡水河谷(VALE.US)涨超2%，报11.5美元。消息面上，淡水河谷第三季度铁矿石产量达9440万吨，为 2018年以来的最高季度产量，同比增长3.8%；铜产量达90800吨，同比增长5.7%。(格隆汇) ...

淡水河谷(VALE.US)公布第三季度铁矿石产量达到自2018年以来的最高季度总产量，并表示其三大主要 业务(铁矿石、铜和镍)正朝着全年产量指引区间的上限迈进。淡水河谷表示，该季度其铁矿石产量为 9440万吨，同比增长3.8%，为2018年第四季度以来的最高水平。这得益于其位于巴西的S11D采矿项目 创纪录的第三季度产量，以及其他项目产量的持续提升。 淡水河谷表示，第三季度铜产量同比增长5.7%，达到90，800吨，这得益于其巴西Salobo项目持续稳定 的生产以及加拿大Voisey's Bay和Sudbury的精矿产量增加，而镍产量则下降0.6%至46,800吨，原因是加 拿大Long Harbour精炼厂创纪录的产量抵消了Copper Cliff精炼厂的维护停产。 由Alexander Hacking领导的花旗分析师团队称，淡水河谷的业绩"表现良好"，这应会促使其股价出 现"小幅上涨"。 该公司预计，2025财年铁矿石产量将在3.25亿至3.35亿吨之间，而今年前九个月的产量为2.457亿吨。第 三季度铁矿石的销量同比增长5.1%，达到8600万吨。同时，铁矿粉的成交价格上涨4.2%，达到每吨94.4 美 ...