金属与矿业行业_铜类股票：年内上涨后的机遇-Metals & Mining_ Copper Equities Opportunities Following the YTD Rally

28 October 2025 | 7:07AM BRT Equity Research METALS & MINING Copper Equities Opportunities Following the YTD Rally Henrique Marques +55(11)3371-0778 | henrique.marques@gs.com Goldman Sachs do Brasil CTVM S.A. Copper equities have rallied by 58% YTD (COPX) as investors' confidence around a tighter supply/demand in the shorter term have increased on the back of a series of mine disruptions (e.g. FCX's Grasberg, Ivanhoe's Kakula, El Teniente, etc). The rally has also been fueled by resilient China demand, USD ...