Jefferies：审视铜生产趋势_2025 年第一季度

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, ...