铜价闪崩！美国关税政策突变引发市场巨震

发布于 2025-08-14

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inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">EBITDAä¸åé¢æï¼å¶éç¤ä¸é»ç³ä¸å¡æç´¯</li><li style="margin: 4px 0px 0px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">è«å°å·´ç¤ç¿åäº§+é»ç³å¸åºä½è¿·ï¼å¥ç¦»è®¡åéé»</li></ul><p style="margin: 8px 0px;padding: 0px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: 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initial;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">âé¢éä¼ä¸ååææ¾<ul style="margin: 8px 0px 16px;padding: 0px 0px 0px 16px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: inherit;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;list-style: disc;text-align: left;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;" class="list-paddingleft-1"><li style="margin: 0px 0px 4px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">å®èµä¹ç±³å¡å°ï¼ArcelorMittalï¼ï¼çå©è¾¾æ ä½<strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">ä¸è°æ¬§ç¾éæ±é¢æ</li><li style="margin: 4px 0px 0px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">å¥¥æææ®ï¼Outokumpuï¼ãé¿ä½©æï¼Aperamï¼ï¼ä¸ç»©è¶é¢æï¼ä½æå¼æ²è§</li></ul><hr style="margin: 24px 0px;border-width: 1px 0px 0px;border-right-style: initial;border-bottom-style: initial;border-left-style: initial;border-right-color: initial;border-bottom-color: initial;border-left-color: initial;border-image: initial;border-top-style: solid;border-top-color: rgba(0, 0, 0, 0.08);background: none rgb(252, 252, 252);color: rgba(0, 0, 0, 0.9);font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-size: 16px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 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start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">å¤§å®ååéä½éå·</h3><ul style="margin: 8px 0px 16px;padding: 0px 0px 0px 16px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: inherit;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;list-style: disc;text-align: left;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;" class="list-paddingleft-1"><li style="margin: 0px 0px 4px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">æ¬§æ´²éå±ç¿ä¸ææ°<strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">åå¨æ´è·6%ï¼å¤§å¹è·è¾å¤§ç</li><li style="margin: 4px 0px 4px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">éç¿ç³å¨è·3%ãéè·2%ãå¶éç¤éæ«6%ï¼æ¤åä¸å¨æ¾æ´æ¶¨9%ï¼</li><li style="margin: 4px 0px 0px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;"><strong style="margin: 0px;padding: 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16px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;" /><h3 style="margin: 16px 0px 8px;padding: 0px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 600;font-stretch: inherit;font-size: 20px;line-height: 1.5;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">ä¸å¨ç¦ç¹äºä»¶</h3><table style="margin: 0px;padding: 0px;border: none;font-style: inherit;font-variant: inherit;font-weight: inherit;font-stretch: inherit;font-size: 14px;line-height: 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normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">æ¥æ</th><th style="margin: 0px;padding: 10px 12px;border-top: none;border-right: 1px solid rgb(224, 224, 224);border-bottom: 1px solid rgb(224, 224, 224);border-left: 1px solid rgb(224, 224, 224);border-image: none 100% / 1 / 0 stretch;font: bold 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(237, 237, 237);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">å¬å¸</th><th style="margin: 0px;padding: 10px 12px;border-top: none;border-right: none;border-bottom: 1px solid rgb(224, 224, 224);border-left: 1px solid rgb(224, 224, 224);border-image: none 100% / 1 / 0 stretch;font: bold 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(237, 237, 237);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">äºä»¶</th></tr></thead><tbody><tr style="margin: 0px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;"><td style="margin: 0px;padding: 10px 12px;border-top: 1px solid rgb(224, 224, 224);border-right: 1px solid rgb(224, 224, 224);border-bottom: 1px solid rgb(224, 224, 224);border-left: none;border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">8æ6æ¥</td><td style="margin: 0px;padding: 10px 12px;border-width: 1px;border-style: solid;border-color: rgb(224, 224, 224);border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han 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UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">åå¹´æ¥ï¼åæç¤çå³çå³é®æ¶ç¹ï¼</td></tr><tr style="margin: 0px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;"><td style="margin: 0px;padding: 10px 12px;border-top: 1px solid rgb(224, 224, 224);border-right: 1px solid rgb(224, 224, 224);border-bottom: 1px solid rgb(224, 224, 224);border-left: none;border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">8æ6æ¥</td><td style="margin: 0px;padding: 10px 12px;border-width: 1px;border-style: solid;border-color: rgb(224, 224, 224);border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">ä¼¦ä¸ç¿ä¸</td><td style="margin: 0px;padding: 10px 12px;border-top: 1px solid rgb(224, 224, 224);border-right: none;border-bottom: 1px solid rgb(224, 224, 224);border-left: 1px solid rgb(224, 224, 224);border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">Q2è´¢æ¥</td></tr><tr style="margin: 0px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;"><td style="margin: 0px;padding: 10px 12px;border-top: 1px solid rgb(224, 224, 224);border-right: 1px solid rgb(224, 224, 224);border-bottom: none;border-left: none;border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">8æ5æ¥</td><td style="margin: 0px;padding: 10px 12px;border-top: 1px solid rgb(224, 224, 224);border-right: 1px solid rgb(224, 224, 224);border-bottom: none;border-left: 1px solid rgb(224, 224, 224);border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">å¼é·æ¯å°¼æ´</td><td style="margin: 0px;padding: 10px 12px;border-top: 1px solid rgb(224, 224, 224);border-right: none;border-bottom: none;border-left: 1px solid rgb(224, 224, 224);border-image: none 100% / 1 / 0 stretch;font: 400 14px / 1.6 "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;vertical-align: middle;background-color: rgb(255, 255, 255);color: rgba(0, 0, 0, 0.9);text-align: center;max-width: 448px;white-space: normal;box-sizing: border-box;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">åå¹´æ¥ï¼éé¶ç¿åé£åæ ï¼</td></tr></tbody></table><hr style="margin: 24px 0px;border-width: 1px 0px 0px;border-right-style: initial;border-bottom-style: initial;border-left-style: initial;border-right-color: initial;border-bottom-color: initial;border-left-color: initial;border-image: initial;border-top-style: solid;border-top-color: rgba(0, 0, 0, 0.08);background: none rgb(252, 252, 252);color: rgba(0, 0, 0, 0.9);font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-size: 16px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-weight: 400;letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;" /><h3 style="margin: 16px 0px 8px;padding: 0px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 600;font-stretch: inherit;font-size: 20px;line-height: 1.5;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">JPæ©æ ¹æèµçç¥</h3><p style="margin: 8px 0px;padding: 0px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">éç¿è¡çææ¿åï¼é¿æå¸å±è¯æºæ¾ç°<ul style="margin: 8px 0px 16px;padding: 0px 0px 0px 16px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: inherit;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;list-style: disc;text-align: left;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;" class="list-paddingleft-1"><li style="margin: 0px 0px 4px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">ä¸è°ä¼¦ä¸ç¿ä¸ï¼Lundinï¼ï¼ä¸æ§ â åæï¼åç¾å½åºåå²å»ï¼</li><li style="margin: 4px 0px 4px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">åå®çå¥½å®ææ³å æ¯å¡ï¼Antofagastaï¼ï¼<p style="margin: 8px 0px 12px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">â 2028å¹´åéäº§é<strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">å¢é¿30%ï¼ä½é£é©æ£å°é¡¹ç®ï¼<p style="margin: 8px 0px 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;">â ä¼°å¼æè®©è³<strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">9å2025å¹´EV/EBITDAï¼æªæ¥æéè³5åï¼</li><li style="margin: 4px 0px 0px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">å¤ååç¿ä¸é¦éï¼åæï¼éäº§é3å¹´+30%ï¼ãåè½å¯ï¼åæç¤çé¢æï¼</li></ul><p style="margin: 8px 0px;padding: 0px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">é¢éè¡ç²¾éæ ç<ul style="margin: 8px 0px 16px;padding: 0px 0px 0px 16px;border: 0px;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: inherit;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;list-style: disc;text-align: left;color: rgba(0, 0, 0, 0.9);letter-spacing: normal;orphans: 2;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;" class="list-paddingleft-1"><li style="margin: 0px 0px 4px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">å¥¥æææ®ï¼Outokumpuï¼ï¼è¡æ¯çé«è¾¾<strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">8%</li><li style="margin: 4px 0px 0px 4px;padding: 0px;border: 0px;font: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;"><p style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;display: inline;"><strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">SSABé¢éï¼ä¼°å¼ä»3.5åEV/EBITDAï¼è¡æ¯ç4.7%</li></ul><blockquote style="margin: 16px 0px;padding: 0px 0px 0px 12px;border-width: 0px 0px 0px 4px;border-top-style: initial;border-right-style: initial;border-bottom-style: initial;border-left-style: solid;border-top-color: initial;border-right-color: initial;border-bottom-color: initial;border-left-color: rgba(0, 0, 0, 0.08);border-image: initial;font-style: normal;font-variant-ligatures: normal;font-variant-caps: normal;font-variant-numeric: inherit;font-variant-east-asian: inherit;font-variant-alternates: inherit;font-variant-position: inherit;font-variant-emoji: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: inherit;font-family: "PingFang SC", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", Helvetica, Arial, "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", "Source Han Sans CN", sans-serif;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;quotes: none;color: rgba(0, 0, 0, 0.4);letter-spacing: normal;orphans: 2;text-align: start;text-indent: 0px;text-transform: none;widows: 2;word-spacing: 0px;-webkit-text-stroke-width: 0px;white-space: normal;background-color: rgb(252, 252, 252);text-decoration-thickness: initial;text-decoration-style: initial;text-decoration-color: initial;"><p style="margin: 8px 0px 12px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 400;font-stretch: inherit;font-size: 16px;line-height: 1.75;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;word-break: break-word;overflow-wrap: break-word;">ð <strong style="margin: 0px;padding: 0px;border: 0px;font-style: inherit;font-variant: inherit;font-weight: 600;font-stretch: inherit;font-size: inherit;line-height: inherit;font-family: inherit;font-optical-sizing: inherit;font-size-adjust: inherit;font-kerning: inherit;font-feature-settings: inherit;font-variation-settings: inherit;vertical-align: baseline;">æ°æ®ç¹çï¼åµå¥æ ¸å¿å¾è¡¨ï¼<p 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