更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha 29 June 2025 | 7:20PM BRT Global Metals & Mining: Takeaways from GS Global Copper Week 2025 +55(11)3371-4580 | marcio.farid@gs.com Goldman Sachs do Brasil CTVM S.A. Matt Greene +44(20)7051-0489 | matt.greene@gs.com Goldman Sachs International Mike Harris +1(713)654-8481 | mike.harris@gs.com Goldman Sachs & Co. LLC Emerson Vieira +55(11)3372-0256 | emerson.vieira@gs.com Goldman Sachs do Brasil CTVM S.A. Henrique Marques +55(11)3371-0778 | henrique.marques@gs.com Goldman Sachs ...

Global | Metals & Mining Examining Copper Production Trends: 1Q25, Part III We track copper production from miners that report quarterly volumes. These companies account for ~70% of global mined copper supply. Based on reports from the companies in our database that have reported 1Q volumes so far, total production for 1Q25 fell (as expected) 11.1% sequentially due to seasonal factors, but was flat y/y as production declines at Glencore, Freeport, and Anglo were offset by production increases at Anto, BHP, ...