有色金属矿业

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突破预期!黄金10月冲刺4000美元创新高,现在入场还来得及吗?
Sou Hu Cai Jing· 2025-10-11 08:47
十月初的资产市场直接上演"冰火两重天":黄金跟开了加速挂似的往4000美元/盎司冲,比高盛预期提 前了一整年;比特币刚在5月破了11万美元新高;可曾经的香饽饽科技板块,却挤得像爆满的游戏副 本,到底哪些资产是真机会,哪些藏着"坑"? 黄金创下新高 进入十月份,黄金的价格再创新高,截至10月6日,金价都快摸到4000美元/盎司了。之前高盛还说,预 计2026年黄金能到4000美元/盎司,年底甚至能冲4900美元/盎司。 可现在才2025年10月,照这速度,说不定今年就能把4000美元/盎司给破了,比预想的快多了。 为啥黄金这么猛?其实就跟咱们玩游戏遇着危险往安全区躲一样,现在全球不太平,逆全球化的味儿越 来越浓,每次全球化卡壳,比如俄乌冲突、巴以冲突,或者有些国家搞加税把供应链弄乱,大家就觉得 钱放别的地方不踏实,往黄金里挪。 再加上美国没以前那么强了,还总想着自己玩自己的,各国央行也不怎么爱囤美债了,转而买黄金,黄 金的分量自然就重了。 美股和加密领域 最后聊聊美股和加密领域,这俩就像游戏里的高风险副本,玩好了能赚不少,玩不好也容易亏,美股那 边,标普指数突破6800点后,美托(就是美股相关的指数基金)就有点 ...
*ST正平股价涨幅异常将停牌核查,此前被处罚正面临股民索赔
Sou Hu Cai Jing· 2025-10-01 01:08
Core Viewpoint - The company, Zhengping Road and Bridge Construction Co., Ltd. (*ST Zhengping*), has announced a stock trading risk warning and will suspend trading for up to five days due to a significant stock price increase of 101.86% from September 1 to September 30, 2025, which deviates sharply from the Shanghai Composite Index and the construction industry [2] Company Overview - Zhengping was established on March 18, 1996, with a registered capital of 699.62337 million RMB, and is headquartered in Xining, Qinghai Province [3][4] - The company specializes in infrastructure construction, cultural tourism, and non-ferrous metal mining [4] - The current chairman is Tian Shisheng, and the company has 955 employees [4] Financial Performance - The company's revenue for 2024 and Q2 2025 was 1.362 billion RMB and 344 million RMB, reflecting year-on-year declines of 28.53% and 37.77% respectively [4] - The net profit attributable to shareholders for the same periods was -484 million RMB and -88.12 million RMB, with year-on-year changes of 8.97% and -12.40% respectively [4] - The company's asset-liability ratios were 90.92%, 90.60%, and 92.22% for the respective periods [4] Regulatory Issues - The company faces delisting risks due to an audit report for the 2024 annual report that could not express an opinion, and it has been placed under delisting risk warning [2] - On March 29, 2024, the company received an administrative penalty from the Qinghai Securities Regulatory Bureau, which included a fine of 1.5 million RMB [3] Risk Factors - The company has significant operational risks, including insufficient mineral resource extraction capacity and unresolved non-operating fund occupation [2] - The company has a total of 497 internal risk alerts and 821 external risk alerts, indicating a high level of risk exposure [4]
603843,停牌核查!一个月内15天涨停
Zheng Quan Shi Bao· 2025-09-30 12:15
Core Viewpoint - *ST Zhengping's stock has experienced a significant increase of 101.86% from September 1 to September 30, 2025, leading to a suspension for investigation due to abnormal trading behavior and a serious deviation from its fundamentals [1][2]. Group 1: Stock Performance and Trading Suspension - The stock of *ST Zhengping has seen a cumulative increase of 101.86% over the month of September 2025, with 15 days of trading halts and 4 instances of abnormal fluctuations [1]. - The company’s stock price has diverged significantly from the Shanghai Composite Index and the construction industry during the same period [1]. - The stock will be suspended from trading starting October 9, 2025, for a maximum of 5 trading days to investigate the trading situation [1]. Group 2: Financial Performance - In 2024, *ST Zhengping reported an operating revenue of 1.362 billion yuan and a net profit attributable to shareholders of -484 million yuan [1]. - For the first half of 2025, the company achieved an operating revenue of 344 million yuan with a net profit attributable to shareholders of -88 million yuan [1]. Group 3: Listing Risks - *ST Zhengping faces the risk of delisting due to an audit report for 2024 that was unable to express an opinion, leading to a risk warning on its stock [2]. - The company has received negative opinions on its internal controls and has significant uncertainties regarding its ability to continue as a going concern [2]. - If the issues highlighted in the non-standard audit opinions are not resolved in 2025, the stock may be delisted [2]. Group 4: Mining Operations and Resource Development - The company’s subsidiary, Geermu Shengguang Mining Development Co., has obtained a mining license but lacks sufficient mining capacity and requires significant investment for future operations [2]. - There are major uncertainties regarding the progress and profitability of mineral resource development due to constraints in funding, market conditions, and operational capabilities [2]. Group 5: Non-operational Fund Occupation - In 2024, *ST Zhengping's subsidiary Guizhou Water Conservancy Industrial Co. faced non-operational fund occupation issues, with 13.2092 million yuan occupied by a minority shareholder [3]. - As of July 2025, 9 million yuan of the occupied funds were returned, leaving a balance of 4.2092 million yuan still occupied [3].
有色整体回落,铜价触底回升
Bao Cheng Qi Huo· 2025-09-29 09:12
Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core Views - **沪铜**: Opened higher in the morning and fluctuated throughout the day with little change in open interest. After Freeport's copper mine production cut announcement on September 24, copper prices rose with increasing positions and market attention. Downstream industries showed low acceptance of the sharp price increase, and domestic pre - holiday stockpiling ended, leading to a weaker spot premium, which suppressed copper prices. With the upcoming National Day and Mid - Autumn Festival holidays in China, overseas market volatility risks should be noted [4]. - **沪铝**: Traded strongly with a slight decline in open interest. Affected by the sharp rise in copper prices last week, aluminum prices stabilized and rebounded but with weak momentum. Before the domestic holiday, there were signs of inventory reduction in electrolytic aluminum, providing support. With a loose macro - environment and an improved supply - demand balance in the peak season, aluminum prices are expected to continue to stabilize and rise [5]. - **沪镍**: Traded in a range with a decline in open interest. The sector effect driven by copper prices faded, and nickel prices dropped back to the level at the beginning of last week. The long - term oversupply of nickel elements continued to suppress nickel prices, but in the short term, the slowdown in port nickel ore inventory accumulation and the reduction of SHFE nickel inventory provided support. With the overall decline of non - ferrous metals in the short term, technical support at the late - September low should be monitored [6]. 3. Summary by Section 3.1 Industry Dynamics - **Copper**: On September 28, eight departments including the Ministry of Industry and Information Technology issued the "Work Plan for Stabilizing Growth in the Non - Ferrous Metals Industry (2025 - 2026)". The plan aims to promote project construction in an orderly manner, avoid low - level redundant construction, and improve investment efficiency. It also emphasizes strengthening resource exploration and utilization, including implementing a new round of ore - finding breakthrough strategies, improving resource recovery and utilization rates, and promoting the comprehensive utilization of recycled resources [8][9]. - **Nickel**: Reuters analysis pointed out a serious disconnect in the key minerals market. Despite the expected surge in long - term demand for energy transition, the current situation is one of oversupply and weak prices. New capacity investments, especially in Indonesia, have led to a significant oversupply of nickel. As of September 29, the SMM1 electrolytic nickel price was 120,700 - 123,300 yuan/ton, with an average price of 122,000 yuan/ton, down 450 yuan/ton from the previous trading day. The average premium of Jinchuan 1 electrolytic nickel was 2,300 yuan/ton, down 50 yuan/ton [10]. 3.2 Relevant Charts - **Copper**: The report presents charts on copper basis, monthly spreads, domestic and overseas exchange inventories, LME copper cancelled warrant ratio, and SHFE warrant inventory [11][13][14]. - **Aluminum**: Charts include aluminum basis, monthly spreads, domestic social inventory, overseas exchange inventory, alumina inventory, and aluminum bar inventory [24][26][28]. - **Nickel**: Charts cover nickel basis, LME nickel inventory and cancelled warrant ratio, LME nickel price trend, SHFE inventory, and nickel ore port inventory [36][37][40].
帮主郑重:政策喊多有色金属,为啥铜铝还在跌?看懂长期逻辑再下手
Sou Hu Cai Jing· 2025-09-28 10:36
给大伙提个醒,看这类机会别光盯着期货价格波动。可以往这几个方向琢磨:一是有资源储备的龙头企业,以后拿到矿权的机会更大,比如那些在国内重点 矿区有布局的公司;二是搞技术的企业,不管是低品位矿提炼还是再生资源回收,有技术就有话语权;三是沾着新能源边的品种,锂、镍、钴这些跟动力电 池紧密相关,长期需求摆在那儿,政策又给资源保障,不愁没行情。 各位投资者,刚刚八部门联手出了个大政策,专门给有色金属行业稳增长定调,又是找矿又是搞资源回收的,但你看盘面,稀土ETF跌了1个多点,铜铝镍 这些品种也都飘绿,这到底是咋回事?我是帮主郑重,干了20年财经记者,专做中长线布局,今天就用大白话给大伙唠透这里面的门道。 我是帮主郑重,跟大伙说这些不是让你急着下手,而是要看懂政策背后的长期逻辑。短期波动都是浮云,真正的机会藏在资源安全和产业升级的大方向里, 耐住性子才能抓得住。 先说说这政策的核心干货,其实就围绕"钱袋子"和"技术活"两大块。一方面是下力气找矿,专门盯着铜、铝、锂、镍这些宝贝,要知道咱们制造业、新能源 产业全靠这些资源撑着,之前不少还得依赖进口,现在西藏的铜矿已经探出亿吨级储量,四川也找到了亚洲最大的锂矿,这都是在给产业 ...
Grasberg铜矿出现较大扰动,矿业ETF(561330)盘中领涨超1.9%、有色60ETF(159881)涨超1.3%
Mei Ri Jing Ji Xin Wen· 2025-09-26 02:04
Group 1 - The core incident involves an accident at Freeport's Grasberg copper mine, specifically in the PB1C production block, where approximately 800,000 tons of wet material surged into the mine, leading to operational suspension and infrastructure damage [1] - As of September 24, the accident resulted in 2 confirmed deaths and 5 missing persons, with ongoing search and recovery efforts, as well as an investigation into the incident [1] - According to Huatai Securities, since 2025, there has been a frequency of disturbances in copper mines, with most disturbances being short-term and having limited supply impact; however, the Grasberg mine's supply reduction is expected to significantly affect the market [1] Group 2 - The domestic electrolytic copper social inventory has been fluctuating, indicating a balanced supply and demand situation in the market [1] - The Grasberg mine is projected to reduce supply by 200,000 tons by Q4 2025, which may assist in depleting electrolytic copper inventories [1] - For 2026, it is estimated that the combined supply reduction from Kamoa-Kakula and Grasberg mines could reach 400,000 tons, potentially offsetting all global copper mine increases, leading to a significant improvement in the copper supply-demand balance [1] Group 3 - The market anticipates that the expansion of AI-related infrastructure will drive copper demand, alongside frequent disturbances in copper mines and a globally loose fiscal and monetary environment [1] - The price of gold is expected to have a certain drag effect on copper prices, suggesting a potential upward trend in copper prices [1]
新疆新鑫矿业:建议发行A股
Zhi Tong Cai Jing· 2025-09-25 10:39
Group 1 - The company Xinjiang Xinxin Mining (03833) announced plans to issue A-shares and list on a stock exchange in the People's Republic of China by September 25, 2025, to promote sustainable growth in revenue and shareholder returns [1] - The company will appoint Shenwan Hongyuan Securities (000562) as the pre-listing advisory institution for the proposed A-share issuance, as required by the China Securities Regulatory Commission [1] - As of the date of the announcement, the company has not yet determined the structure for the proposed A-share issuance and has not applied for approval from any relevant regulatory authorities in China [1]
全球铜供应遭遇冲击,矿业ETF(561330)大涨超3%,资金持续净流入
Mei Ri Jing Ji Xin Wen· 2025-09-25 04:03
Group 1 - Freeport McMoRan's Grasberg mine in Indonesia experienced a fatal landslide, leading to a long-term disruption in global copper supply [1][3] - The incident resulted in the death of two workers, with five still missing, and production is expected to not return to pre-accident levels until 2027, with a projected 35% decrease in copper and gold output for 2026 [3] - The Grasberg mine accounts for 50% of Freeport's proven reserves and approximately 70% of its expected production before 2029, indicating a significant impact on the global copper supply chain [3] Group 2 - The copper market has been facing frequent disruptions this year, with aging production facilities and declining resource endowments being major obstacles [3] - The supply-demand balance for copper is expected to remain tight, with actual production often falling short of optimistic forecasts due to various disturbances [3] - The onset of a Federal Reserve interest rate cut cycle is anticipated to benefit metal prices, including copper, silver, gold, and other strategic metals [4] Group 3 - The mining ETF (561330) has seen a net inflow for ten consecutive days, reflecting growing interest in the mining and metals sector amid the current market conditions [1][6] - The mining ETF tracks the China Securities Index for non-ferrous metal mining companies, highlighting the value of domestic mineral resources in the context of global competition [6] - Investors are encouraged to consider various ETFs focused on non-ferrous metals, including those linked to the China Securities Index for broader exposure [6]
全球铜供应遭遇冲击,矿业ETF(561330)盘中领涨超3%、有色60ETF(159881)涨超2.5%,机构:基本金属价格有所支撑
Mei Ri Jing Ji Xin Wen· 2025-09-25 04:03
Group 1 - The core event involves a fatal landslide at Freeport McMoRan's Grasberg mine in Indonesia, leading to a significant increase in global copper prices and supply chain concerns [1] - The Grasberg mine, the second-largest copper mine globally, has suspended production due to the incident, and the company has invoked force majeure clauses [1] - Freeport anticipates that it will take until 2027 to restore production levels to pre-accident figures, with a projected 35% decrease in copper-gold output for 2026 compared to previous expectations [1] Group 2 - The Grasberg mine accounts for 50% of Freeport's proven reserves and approximately 70% of the expected production before 2029, indicating a long-term impact on global copper supply chains [1] - Citic Futures notes that the reduction in production guidance for the Grasberg mine will exacerbate tightening pressures in the copper market, despite slightly weak terminal demand since September [1] - The expectation of a tightening supply-demand balance is expected to support metal prices, with a focus on potential buying opportunities in copper, aluminum, and tin [1]
有色金属ETF(512400)跳空高开一度涨近3%,北方铜业涨超7%,机构预计铜价中枢或仍上行
Xin Lang Cai Jing· 2025-09-25 03:30
Group 1 - The core viewpoint of the news highlights a significant increase in the performance of the non-ferrous metal ETF (512400) and the impact of Freeport-McMoRan's announcement regarding its Grasberg mine on copper prices and supply risks [1][2] - The non-ferrous metal ETF experienced a jump of nearly 3% in early trading on September 25, 2025, with a turnover of 5.14% and a transaction volume of 639 million yuan [1] - The index tracking the non-ferrous metal sector, the China Securities Index, rose by 2.21%, with notable increases in component stocks such as Luoyang Molybdenum (up 9.59%) and Tongling Nonferrous Metals (up 7.89%) [1] Group 2 - Freeport-McMoRan announced a force majeure at its Grasberg mine in Indonesia, predicting a decline in copper and gold sales for Q3, which has raised concerns about long-term copper supply shortages [1] - Citigroup noted that Grasberg accounts for approximately 3% of global copper supply, indicating that the total loss in Q4 could impact global supply by 3%, with a projected 35% loss affecting about 1% of global supply by 2026 [1] - Following this news, the three-month copper price on the London Metal Exchange rose by 2% to $10,172 per ton [1] Group 3 - The Federal Reserve's recent interest rate cut of 25 basis points to a range of 4.00%-4.25% is expected to support gold prices, with ongoing expectations for further rate cuts influencing the market [2] - The weak dollar is providing support for copper prices, and the recent Fed rate cut has driven an upward trend in copper prices [2] - The non-ferrous metal ETF closely tracks the China Securities Index, which includes 50 listed companies in the non-ferrous metal and non-metal materials sectors, reflecting the overall performance of the industry [2]