每经AI快讯，盛达资源1月12日晚间发布公告称，公司第十一届第十四次董事会会议于2026年1月11日 以通讯表决方式召开。会议审议了《关于收购广西来宾金石矿业有限公司55%股权的议案》等文件。 （记者 曾健辉） 每经头条（nbdtoutiao）——年产量是传统大田120倍以上，1个人管理1栋楼！实探中国"植物工厂"：水 稻生产期从120天减到60天，没有虫害不用打农药 ...

每经AI快讯，1月12日，藏格矿业（000408）(000408.SZ)公告称，藏格矿业预计2025年归属于上市公司 股东的净利润为37亿元~39.5亿元，比上年同期增长43.41%~53.10%。报告期内，氯化钾产销量超预期、 销售价格上涨及成本下降，碳酸锂业务复产后产销顺畅且价格回暖，叠加参股西藏巨龙铜业投资收益大 幅增加，共同推动业绩同比增长。报告期内，公司确认的投资收益约为26.8亿元，对公司净利润贡献重 大。主要原因系公司参股的西藏巨龙铜业有限公司受益于铜价上涨及产能释放，其营业收入及净利润均 实现同比大幅增长。 ...

藏格矿业公告称，预计2025年归属于上市公司股东的净利润为37-39.5亿元，同比增长43.41%-53.10%； 扣非净利润38.7-41.2亿元，同比增长51.95%-61.76%。业绩增长主因：氯化钾业务量价齐升、成本优 化；碳酸锂业务快速复产；投资收益约26.8亿元，因参股的西藏巨龙铜业营收和净利润同比大增。本次 业绩未经审计，以年报为准。 ...

Core Viewpoint - The company Shengda Resources (000603.SZ) plans to acquire a 55% stake in Guangxi Jinshi for 269.5 million yuan to enhance its mineral resource reserves and ensure sustainable development [1] Group 1: Acquisition Details - The acquisition involves cash payment of 26,950,000 yuan for the stake held by four individuals: Jiang Wenli (25.003%), Liu Minchao (21.065%), Liu Xifeng (4.6475%), and Lu Qian (4.2845%) [1] - Upon completion of the transaction, Guangxi Jinshi will become a subsidiary of Shengda Resources [1] Group 2: Asset Overview - Guangxi Jinshi holds mining rights for three key mining assets located in Xiangzhou County, Laibin City, Guangxi: Miaohuang Copper-Lead-Zinc-Silver Mine, Huapeng-Na Yi Copper-Lead-Zinc-Silver Exploration Rights, and Huahou-Huayi Copper-Lead-Zinc-Silver Exploration Rights [1] - The mining rights will remain under Guangxi Jinshi's name post-transaction, and there will be no transfer of mining rights ownership, thus avoiding the need for related approval procedures [1]

格隆汇1月12日丨西部矿业(601168.SH)公布，公司在保障稳健发展和日常运营所需资金的基础上，经公 司董事会审议通过，公司拟实施本次利润分配。具体方案如下：截至2025年9月30日，公司2025年前三 季度母公司实现净利润293,646万元（未经审计），加上年初未分配利润424,292万元，扣除2025年已分 配的2024年度普通股股利238,300万元，2025年9月30日母公司可供股东分配的利润为479,638万元。拟向 全体股东每10股派发现金红利0.40元（含税）。 ...

格隆汇1月12日丨西部矿业(601168.SH)公布，公司在保障稳健发展和日常运营所需资金的基础上，经公 司董事会审议通过，公司拟实施本次利润分配。具体方案如下：截至2025年9月30日，公司2025年前三 季度母公司实现净利润293,646万元（未经审计），加上年初未分配利润424,292万元，扣除2025年已分 配的2024年度普通股股利238,300万元，2025年9月30日母公司可供股东分配的利润为479,638万元。拟向 全体股东每10股派发现金红利0.40元（含税）。 ...

杰富瑞近日发布力拓(RIO.US)的权益研究报告，聚焦这家全球矿业巨头的投资价值、业务布局及风险回 报前景。核心结论显示，力拓当前股票风险与回报已达平衡，其锂业务为关键增长引擎，同时面临战 略、地缘政治等多重风险。该行给予"中性"评级，目标价为5788便士/股。 阿根廷锂矿实地考察总结 该行参与了力拓(RIO)组织的阿根廷林孔(Rincon)和菲尼克斯(Fenix)锂矿资产实地考察，并与当地公司代 表及阿根廷政府官员举行了会谈。此次考察进一步强化了该行对力拓锂业务发展愿景的逐渐乐观看法。 该行依然认为，该业务板块能让投资者受益于大宗商品价格的持续上涨，而扩产计划也将在中期为公司 带来可观的盈利贡献。 控制资本支出 除了2029财年前承诺的28亿美元资本支出外，锂业务部门需在力拓整体投资组合中竞争后续资金支持。 若出现重大资本支出超支情况，后续应对措施尚不明确。尽管该部门已规划了此时间框架后的增长项 目，计划将产能从20万吨/年碳酸锂当量(LCE)提升至约37万吨/年LCE，但该行认为，除非锂市场出现实 质性、持续性改善，否则这些项目难以推进。 阿根廷经济是否正崛起? 该行与阿根廷央行行长、矿业部长、能源资源副 ...

西部矿业公告，公司于2026年1月12日召开第八届董事会第二十六次会议审议通过了《关于公司2025年 前三季度利润分配的议案》，会议同意：以2025年度末公司总股本238,300万股为基数，向全体股东每 10股派发现金股利0.4元（含税），共计分配9,532万元（占2025年度前三季度归属于母公司股东净利润 的3%），剩余未分配利润结转下一期分配，并将该方案提请2026年第一次临时股东会审议批准。 ...

期货研究报告 投资咨询业务资格：证监许可【2011】1778 号 铁矿石到货、发运周度数据（2026 年第 2 周） 一、简评 1、国内 47 港到货量为 3015.00 万吨，环比增 190.30 万吨，持续回升并至高位；其中澳矿、巴西矿分 别增 111.60、102.60 万吨，非澳巴矿环比降 23.90 万吨。 2、海外矿石发运持续回落，全球矿石发运总量为 3180.90 万吨，环比减 32.80 万吨，降幅显著收窄。 其中主流矿商增减互现，四大矿商合计减 3.72 万吨，发运有所企稳；细分地区看巴西矿环比减 128.40 万 吨，澳矿则是微降 8.00 万吨，非澳巴矿环比增 103.60 万吨，低位开始回升。 3、按船期推算国内港口澳巴矿到货量将高位回落，但降幅有限，海外供应维持相对高位。 二、矿石到货与发运数据 | | | | | | 铁矿石周度到货和发运数据 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 指标 | 本期值 | 上期值 | 周度变化 | 周度变化 ...

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Views - **Copper**: The multi - short game for copper prices at high levels has intensified. Attention should be paid to the support at the 100,000 - yuan mark. Although the short - term upward momentum of copper prices is strong, they are at a historical high. The pressure on the domestic industrial side contradicts the strong macro expectations, and short - term futures prices may need to oscillate for digestion, waiting for the industry to catch up. The obvious increase in the social inventory of electrolytic copper last week reflects the resistance of downstream industries [5][57]. - **Aluminum**: The multi - short game for aluminum prices at high levels has intensified. Attention should be paid to the pressure at the 2021 high. The strong performance of aluminum prices mainly comes from the high copper - aluminum ratio, and the increasing expectation of aluminum substitution for copper provides upward momentum. Short - term aluminum prices are facing technical pressure at the October 2021 high, and attention should be paid to the technical support at the 24,000 - yuan mark [6][57]. 3. Summary by Directory 1. Macro Factors - The macro - market atmosphere cooled last week, with global stock indices and commodities showing a high - level decline. The short - term market risk preference decreased, and copper prices also dropped from high levels. Additionally, the continuous rebound of the US dollar index exerted pressure on copper prices, and the multi - short game for LME copper at the 13,000 - dollar mark intensified [10]. 2. Copper - **2.1 Quantity and Price Trends**: Copper prices first rose and then fell last week, generally oscillating above 100,000 yuan. The open interest of SHFE copper remained at a high level, and the multi - short game at high levels intensified [5][57]. - **2.2 Copper Ore Shortage**: Rio Tinto and Glencore have conducted preliminary negotiations on a super - merger. They produce a series of minerals including copper. Rio Tinto was the seventh - largest copper producer in 2024 with a production of 649,720 metric tons, and Glencore was the fourth - largest with a production of about 1 million tons in 2024 [24]. - **2.3 Electrolytic Copper Inventory Accumulation**: On January 8, the social inventory of electrolytic copper monitored by Mysteel was 284,700 tons, a weekly increase of 37,600 tons. The inventory of COMEX + LME was 801,400 tons, a weekly increase of 44,200 tons. High copper prices have a suppressive effect on the global industry [26]. - **2.4 Downstream Primary Processing**: In December 2025, the operating rate of recycled copper rods was 20.42%, higher than the expected 19.61%, but down 3.42 percentage points month - on - month and 15.92 percentage points year - on - year [28]. 3. Aluminum - **3.1 Quantity and Price Trends**: After the New Year's Day, aluminum prices showed an upward trend with increasing positions, breaking through the 24,000 - yuan mark. The short - term macro - atmosphere dominated the trend of aluminum prices. Since Wednesday, the macro - atmosphere cooled, and the willingness of funds to close positions increased, leading to a decline in aluminum prices from high levels. However, on Friday, aluminum prices were strong again, rising with increasing positions and approaching the previous high [6][57]. - **3.2 Upstream Industrial Chain**: On January 9, the port inventory of bauxite was 25.096 million tons, an increase of 886,000 tons from the previous week and 7.496 million tons higher than the same period in 2024. After the New Year's Day, alumina prices rebounded significantly, which may lead to a decline in the high - level profits of electrolytic aluminum plants [41][42]. - **3.3 Slowdown in Electrolytic Aluminum Inventory Reduction**: On January 8, the social inventory of electrolytic aluminum monitored by Mysteel was 718,000 tons, an increase of 80,000 tons from before the holiday. The overseas electrolytic aluminum inventory was 506,100 tons, a decrease of 9,400 tons from the previous week. The overseas electrolytic aluminum inventory at a low level provided support for aluminum prices [46]. - **3.4 Downstream Primary Processing**: Last week, the processing fee of aluminum rods decreased significantly. As aluminum prices rose to the 24,000 - yuan level, downstream industries showed obvious fear of high prices. On January 8, the inventory of aluminum rods was 114,100 tons, an increase of 15,100 tons from the previous week [51][53]. 4. Conclusion The conclusion is consistent with the core views, emphasizing the multi - short game situation of copper and aluminum prices at high levels, the influence of macro and industrial factors, and the key technical levels to be concerned about [57].