Core Viewpoint - The company highlights the significant advantages of the Zabuye Salt Lake, including large lithium reserves, high grade, and low magnesium-lithium ratio, which provide a stable long-term lithium resource support [1] Group 1: Resource Characteristics - The Zabuye Salt Lake is characterized as a carbonate-type brine resource with a mining rights area of 298.5 square kilometers [1] - The lithium resource at Zabuye is noted for its large scale and high quality, which is crucial for the company's operations [1] Group 2: Production and Efficiency - The potassium chloride produced as a byproduct of the Zabuye Phase II project utilizes a flash evaporation crystallization process [1] - The project is designed to achieve an annual production capacity of 156,000 tons of potassium chloride, which will gradually be released as the project reaches full capacity [1] - The enhanced resource utilization efficiency is expected to effectively dilute the marginal costs of salt lake development and extend the value chain [1]

格隆汇12月11日丨大中矿业(001203.SZ)在投资者互动平台表示，目前，公司暂无确定的码头新建项 目。 ...

12月11日，沪深两市主要股指走势分化，截至9点55分，A500ETF南方（159352.SZ）上涨0.33%，热门 个股中，特变电工涨超4%，宁德时代、澜起科技、紫金矿业涨超3%，药明康德、阳光电源等跟涨。 素材源：吕怡蕾 编辑：康书源 审核：吴娜 中证A500指数作为覆盖A股新经济龙头的重要宽基指数，行业分布均衡，相比单一行业指数更具风险分 散优势；指数既囊括了传统优势行业的稳健标的，又深度纳入医药生物、新能源、计算机等新兴成长板 块的头部企业，形成了龙头荟萃、成长与价值并重的投资组合特征；当前市场环境下，政策持续聚焦新 质生产力及现代化产业体系建设，中证A500指数深度受益于产业政策红利释放。A500ETF南方 （159352.SZ）紧密跟踪指数，场内成交活跃，流动性充裕，费率优势显著，是把握中国经济结构转型 红利的优质工具，中长期配置价值突显。 免责声明：以上内容为本网站转自其他媒体，相关信息仅为传递更多信息之目的，不代表本网观点，亦 不代表本网站赞同其观点或证实其内容的真实性。如稿件版权单位或个人不想在本网发布，可与本网联 系，本网视情况可立即将其撤除。 消息面上，12月10日，美联储主席鲍威尔就委 ...

恒生指数高开0.66%，恒生科技指数涨0.55%。泡泡玛特、紫金矿业、汇丰控股涨逾2%，网易、阿里巴 巴、哔哩哔哩等科网股走强。 恒生指数高开0.66%，恒生科技指数涨0.55%。泡泡玛特、紫金矿业、汇丰控股涨逾2%，网易、阿里巴 巴、哔哩哔哩等科网股走强。 ...

智汇矿业是一家专注于矿业领域的企业，核心业务涵盖中国西藏地区锌、铅、铜的探矿、采矿、精矿生 产及销售。公司采矿作业地点位于西藏那曲市嘉黎县绒多乡，目前持有约58.5平方公里的探矿权及约4.5 平方公里的采矿权。旗下蒙亚啊矿场每年可供应40万吨矿石，为选矿厂的精矿生产提供原料保障。 公司主要产品包括锌精矿、铅精矿及铜精矿，收入来源为向中国境内客户销售上述精矿，客户群体涵盖 有色金属贸易商及精炼厂。 财华社讯，12月11日，智汇矿业（02546.HK）正式启动香港全球招股。本次计划全球发售约1.22亿股， 其中国际发售部分约为1.1亿股，香港公开发售部分为1219.6万股。 招股价区间介于4.1港元至4.51港元，若以4.3港元的中间价定价，在扣除相关开支后，公司预计募集资 金净额约为4.706亿港元。所募资金计划主要用于以下方面：约29.2%用于全面提升采矿能力；约23.4% 用于增加公司在西藏采矿权范围内的探矿投资；约18.7%用于提升选矿生产能力及优化精矿生产能力。 香港公开发售时间为12月11日至12月16日，最终发售价及股份分配结果预计于12月18日公布。公司股份 计划于12月19日在香港联交所主板开始 ...

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The overall terminal demand is average, and the prices of various black building materials show different trends, with some fluctuating up and others down [1][3][5][8] Summary by Related Catalogs Steel - **Market Analysis**: The main contract of rebar futures closed at 3,117 yuan/ton, and the main contract of hot-rolled coil closed at 3,282 yuan/ton. The overall spot steel transactions were good, the market rose, and low-price speculation and futures-spot purchases increased [1] - **Supply and Demand Logic**: The supply-demand fundamentals of building materials continue to improve. Although consumption has declined, production has also decreased, and inventory pressure has further eased. The improvement of the supply-demand fundamentals of plates is insufficient, and high inventories continue to suppress plate prices. Appropriate production cuts are needed to reduce the pressure of seasonal inventory accumulation in the later stage. With the continuous cooling in various places, the off-season of building material demand has arrived [1] - **Strategy**: Unilateral, the trend is expected to be volatile; for cross-period, cross-variety, futures-spot, and options, there are no specific strategies [2] Iron Ore - **Market Analysis**: The price of iron ore futures rose slightly yesterday. The prices of mainstream imported iron ore varieties at Tangshan Port were relatively strong. Traders' enthusiasm for quoting was average, and quotes mostly followed the market. Steel mills' purchases were mainly for rigid needs. The cumulative transaction volume of iron ore at major domestic ports was 715,000 tons, a month-on-month decrease of 37.12% [3] - **Supply and Demand Logic**: This week, the shipment of iron ore increased slightly, and the daily average hot metal output continued to decline. Currently, the iron ore price remains at a relatively high level. However, due to market factors, the inventory of some iron ore varieties is locked, keeping the price high. If external factors are removed later and the inventory is released intensively, the iron ore price will face certain pressure [3] - **Strategy**: Unilateral, the trend is expected to be volatile; for cross-variety, cross-period, futures-spot, and options, there are no specific strategies [4] Coking Coal and Coke - **Market Analysis**: The main contracts of coking coal and coke futures fluctuated downward yesterday. In the spot market, coal prices in the main production areas continued to decline. Currently, end-users such as the chemical industry maintain on-demand procurement, and most coal mines continue to reduce prices to destock. Some steel mills plan to lower the price of wet-quenched coke. The transaction of imported Mongolian coal continued to be weak, dropping to around 960 yuan/ton [5] - **Supply and Demand Logic**: For coking coal, with the sharp decline in the futures market, the expectation of a decline in coke prices is strong, and the support of rigid demand for raw materials is weak. In the short term, coal prices will still fluctuate weakly and stably. For coke, affected by environmental protection factors, the supply has shrunk slightly. Coupled with the maintenance plans of some steel mills, the demand for coke has weakened. In the future, attention should be paid to the hot metal output and the trend of coking coal prices [5][6] - **Strategy**: For coking coal and coke, the trend is expected to be volatile; for cross-variety, cross-period, futures-spot, and options, there are no specific strategies [7] Thermal Coal - **Market Analysis**: In the producing areas, coal prices in the main production areas continued to fluctuate downward. Currently, the market is dominated by a wait-and-see attitude. End-users with rigid demand purchase on demand, and some reduce prices and quantities. Under the spread of pessimistic sentiment, coal prices will fluctuate downward in the short term. In the port market, the recent weak trend has continued, and the price center of gravity has continued to move down. The inventory of northern ports has continued to rise, while downstream end-users have not increased their purchases. Traders are pessimistic, and it is still difficult to sell at low prices, with difficult transactions. In terms of imports, both domestic and foreign trade prices have fallen rapidly recently, and the price of imported coal has fallen faster, still maintaining a cost-effective advantage [8] - **Supply and Demand Logic**: Recently, pessimistic sentiment has spread in the market, and coal prices have fluctuated. In the long term, the pattern of loose supply remains unchanged. Attention should be paid to the consumption and restocking of non-power coal [8] - **Strategy**: No specific strategy is provided [8]

Core Insights - The Federal Reserve's FOMC has lowered interest rates by 25 basis points, indicating a shift in monetary policy [4] - The U.S. House of Representatives has passed the National Defense Authorization Act, reflecting ongoing governmental activities [4] - The International Monetary Fund (IMF) has revised China's economic growth forecast for this year to 5%, suggesting a positive outlook for the Chinese economy [4] Economic Data - In November, the U.S. budget deficit reached $173 billion, highlighting fiscal challenges [4] - The Consumer Price Index (CPI) in China rose by 0.7% year-on-year in November, while the Producer Price Index (PPI) fell by 2.2%, indicating mixed inflationary pressures [4] - In October, domestic smartphone shipments in China totaled 32.27 million units, marking an 8.7% year-on-year increase, reflecting growth in the technology sector [4] Market Performance - The Nasdaq index closed at 23,654.16, up by 0.33%, while the Dow Jones Industrial Average rose by 1.05% to 48,057.75, indicating a positive trend in U.S. equity markets [6] - The Baltic Dry Index decreased by 5.09% to 2,557.00, suggesting a decline in shipping rates [6] - The Hang Seng Index closed at 25,540.78, up by 0.42%, indicating stability in the Hong Kong market [6]

五矿发展财务总监谭巍与会中坦言，2025年下半年以来，受房地产市场持续探底、基建投资增速放缓等 因素影响，钢铁行业形势依然不容乐观，企业利润和现金流持续承压。 本报记者 张蓓 见习记者 黄指南 深圳报道 黑色金属资产注入遥遥无期，"五矿系"地产及矿业资源整合却率先落地了。 12月8日，五矿发展召开2025年第三季度业绩说明会，公司董事长魏涛、总经理李智聪、财务总监谭 巍、董秘曲世竹等核心管理层集体出席，直面市场关切。 图片来源于企业官网 对于投资者高度关注的分红事宜，谭巍并未给出明确回应。其回应的背后，实则折射出行业下行周期 中，企业在平衡经营稳健性与股东回报诉求之间的两难处境。 针对资产注入及经营业绩动态，12月8日，《华夏时报》记者已向五矿发展发去采访联络函。截至发稿 时，五矿发展方面暂未回复记者提问。 在12月9日经历股价剧烈分化后，截至12月10日收盘，中国中冶与五矿发展股价均小幅回落，市场解读 正趋于理性。 这场股价反差驱动原因，均来自五矿集团内部同业整合的推进。在中国中冶披露的关联交易公告中，五 矿发展本未直接出现在整合方案中，却意外成为资本追捧的对象；而作为整合事件主角的中国中冶，反 而因资产剥 ...

本文源自：格隆汇 12月11日，智汇矿业(2546.HK)发布公告，公司拟全球发售约1.22亿股H股，中国香港发售股份1219.6万 股，国际发售股份约1.10亿股(以上可予重新分配)；2025年12月11日至12月16日招股，预期定价日为12 月17日；发售价将为每股发售股份4.10-4.51港元，H股的每手买卖单位将为1000股，国金证券(香港)及 迈时资本为联席保荐人；预期股份将于2025年12月19日开始在联交所买卖。 ...

来源：智通财经 12月11日早间，智汇矿业在港交所公告，公司拟全球发售121,952,000股H股，香港发售股份12,196,000 股H股，国际发售股份109,756,000股H股；发售价不超每股4.51港元；预期股份将于2025年12月19日开 始在香港联交所买卖。 ...