SHMET6鏈�26鏃ヨ▕锛�
閵�
涓婁氦鏄撴棩鍊妳鏀剁洡(p谩n)浜�13316缇庡厓/鍣�锛岃純鍓嶄氦鏄撴檪(sh铆)娈典笂婕�229.5缇庡厓/鍣�锛屾疾骞�1.75%銆傛滑閵呬富鍔涘悎绱勫鐩�(p谩n)鏀剁洡(p谩n)浜�102220鍏�/鍣�锛岃純鍓嶄氦鏄撴檪(sh铆)娈典笂婕�830鍏�/鍣�锛屾疾骞�0.82%銆傜編鍦�(gu贸) 5 鏈� PCE 绗﹀悎闋�(y霉)鏈�锛岄�氳劰闊屾�ц純寮�(qi谩ng)锛岀編鑱�(li谩n)鍎�(ch菙)瀵澗绌洪枔鏈夐檺锛屽競鍫�(ch菐ng)鍔犳伅闋�(y霉)鏈熸湭鏄庨’闄嶆韩锛岀編鍏冨皪(du矛)閵呭児(ji脿)鏀拹鍔涘害鍋忓急銆傜編绮剧厜閵� 232 闂�(gu膩n)绋呰(di脿o)鐮旇嚚杩�锛岃部(m脿o)鏄撳晢鎻愬墠鍌欒波甯跺嫊(d貌ng) COMEX 搴�(k霉)瀛樻柊楂�锛孡ME 搴�(k霉)瀛樺洖钀借嚦浠婂勾涓夋湀姘村钩锛屾捣澶栧崁(q奴)鍩熸�ч渶姹傚崌婧�銆侷CSG 鍓嶆湡鍏ㄥ勾鐭己闋�(y霉)鏈熷凡淇鐐哄皬骞呴亷(gu貌)鍓╋紝鐭湡鍏ㄧ悆渚涙噳(y墨ng)浠嶅瓨鎿惧嫊(d貌ng)锛屾櫤鍒╀竴瀛ｅ害绮鹃妳鐢�(ch菐n)閲忓悓姣斾笅婊戯紝绀﹀北鍝佷綅璧颁綆澹撳埗鐢�(ch菐n)鍑�銆傝嫳缇庤硣婧愯伅(li谩n)鍚� Codelco 鎺ㄩ��(j矛n)鏅哄埄绀﹀北涓�楂斿寲闁�(k膩i)鐧�(f膩)锛屽閲忕偤閬�(yu菐n)鏈熺敘(ch菐n)鑳�锛岀煭鏈熼洠绶╄В渚涚郸绱勬潫锛涚編鍦�(gu贸)鎴�(zh脿n)鐣ユ�у洡閵呮敼璁婇妳瀹氬児(ji脿)閭忚集锛岀枈鍔� AI銆佽兘婧愯綁(zhu菐n)鍨嬮暦(zh菐ng)鏈熸墭搴曢妳闇�姹�銆傜煭鏈熼棞(gu膩n)绋呴爯(y霉)鏈熻垏浣庡韩(k霉)瀛樻敮鎾愰妳鍍�(ji脿)鍙嶅綀锛屼絾鍦�(gu贸)鍏�(n猫i)鐝�(xi脿n)璨ㄨ蛋寮�銆佸畯瑙�鎯呯窉娉㈠嫊(d貌ng)澹撳埗涓婅绌洪枔锛岄妳鍍�(ji脿)鐭湡鍗�(q奴)闁撻渿钑�锛岄渶璀︽儠鏀跨瓥钀藉湴鍚庣嵅鍒╁洖鍚愰ⅷ(f膿ng)闅�(xi菐n)銆�
閶�
涓婁氦鏄撴棩鍊媮鏀剁洡(p谩n)浜�3185.5缇庡厓/鍣革紝杓冨墠浜ゆ槗鏅�(sh铆)娈典笂婕�63缇庡厓/鍣�锛屾疾骞�2.02%銆傛滑閶佷富鍔涘悎绱勫鐩�(p谩n)鏀剁洡(p谩n)浜�22920鍏�/鍣�锛岃純鍓嶄氦鏄撴檪(sh铆)娈典笅璺�25鍏�/鍣�锛岃穼骞�0.11%銆傚�媮鍙椾腑鏉卞湴绶ｇ珐鍜岄﹨(q奴)鍕�(d貌ng)锛岄ⅷ(f膿ng)闅�(xi菐n)婧㈠児(ji脿)蹇�熷洖鍚�锛岃穼鑷宠繎涓夊��(g猫)鏈堜綆浣嶅悗鏆嵅鍠樻伅锛屽畯瑙�鎯呯窉鍋忓急鐤婂姞閬�(yu菐n)鏈熶緵鎳�(y墨ng)澧為噺闋�(y霉)鏈�锛屽叡鍚屽鍒堕媮鍍�(ji脿)閬�(y霉n)琛屼腑妯�銆傜編鍦�(gu贸) 5 鏈� PCE 鍚屾瘮涓婃疾 4.1% 绗﹀悎闋�(y霉)鏈�锛岄�氳劰绮樻�т粛寮�(qi谩ng)锛岀編鑱�(li谩n)鍎�(ch菙)骞村収(n猫i)鍔犳伅浠嶅緟鍚庣簩(x霉)椹�(y脿n)璀�锛屼絾闄嶆伅闋�(y霉)鏈熸槑椤檷婧�锛岀編鍏冨亸寮�(qi谩ng)灏�(du矛)閲戝爆鍍�(ji脿)鏍煎舰鎴愬鍒�锛�5 鏈堣�愮敤鍝佽▊鍠挵(hu谩n)姣旈檷 4.5%锛屽壍(chu脿ng)杩戜竴骞存渶澶ч檷骞咃紝浣嗘牳蹇冭硣鏈搧瑷傚柈瓒呴爯(y霉)鏈熷洖鍗�锛屽伐妤�(y猫)闇�姹傚墠鏅憟鐝�(xi脿n)鍒嗗寲銆傜煭鏈熷鐩�(p谩n)鏆┅(w臎n)浣嗗収(n猫i)鐩�(p谩n)渚涢渶鍏╁急锛岃窡婕插嫊(d貌ng)鑳戒笉瓒筹紝閶佸児(ji脿)鐭湡澶ф鐜囩董鎸侀渿钑╁亸寮辫蛋鍕�(sh矛)锛岄渶璺熻工鍦�(gu贸)鍏�(n猫i)搴�(k霉)瀛樿畩鍖栬垏涓嬫父娑堣不(f猫i)鎯呮硜銆�
閶�
涓婁氦鏄撴棩鍊媴鏀剁洡(p谩n)浜�3438缇庡厓/鍣�锛岃純鍓嶄氦鏄撴檪(sh铆)娈典笂婕�16.5缇庡厓/鍣�锛屾疾骞�0.48%銆傛滑閶呬富鍔涘悎绱勫鐩�(p谩n)鏀剁洡(p谩n)浜�23960鍏�/鍣�锛岃純鍓嶄氦鏄撴檪(sh铆)娈典笅璺�10鍏�/鍣革紝璺屽箙0.04%銆�2026骞村叏鐞冮媴绮剧う鍚屾瘮澧為噺杓冩鍓嶉爯(y霉)浼板ぇ骞呬笅瑾�(di脿o)锛岀う绔亸绶婃牸灞�鎸佺簩(x霉)鐐洪媴鍍�(ji脿)绶ㄨ集鏀拹銆傞媴绮剧うTC缍寔浣庝綅閬�(y霉n)琛�锛屽喍鐓夊粻鍒╂饯(r霉n)鎵垮鏄庨’銆傞崓閶呬紒妤�(y猫)鎸夐渶閲囪臣(g貌u)鐐轰富锛岄枊(k膩i)宸ョ巼鎸佺┅(w臎n)浣嗘柊澧炶▊鍠湁闄�锛屾秷璨�(f猫i)绔閲忕┖闁撲笉瓒�锛屽競鍫�(ch菐ng)浜ゆ姇涓嶆韩涓嶇伀銆傛捣澶栭媴绀﹀京(f霉)鐢�(ch菐n)閫�(j矛n)绋嬬珐鎱�锛屼絾闇�姹傚悓妯ｇ柌寮�锛岀煭鏈熼媴鍍�(ji脿)鎴栫辜绾�(x霉)鍦嶇篂24000鍏�/鍣搁棞(gu膩n)鍙ｆ暣鐞�銆�
閴�
涓婁氦鏄撴棩鍊墰鏀剁洡(p谩n)浜�1911.5缇庡厓/鍣革紝杓冨墠浜ゆ槗鏅�(sh铆)娈典笅璺�1.5缇庡厓/鍣�锛岃穼骞�0.08%銆傛滑閴涗富鍔涘悎绱勫鐩�(p谩n)鏀剁洡(p谩n)浜�16225鍏�/鍣�锛岃純鍓嶄氦鏄撴檪(sh铆)娈典笂婕�15鍏�/鍣�锛屾疾骞�0.09%銆傜編鍦�(gu贸) 5 鏈� PCE 鍚屾瘮涓婃疾 4.1% 绗﹀悎闋�(y霉)鏈�锛岄�氳劰绮樻�т粛鍋忓挤(qi谩ng)锛岄洊鐒跺姞鎭毇鐒�(w煤)娉曞畾璜�锛屼絾闄嶆伅娆℃暩(sh霉)鎴栧箙搴﹀皣鍙楀奖闊匡紝缇庡厓鎸囨暩(sh霉)鍋忓挤(qi谩ng)閬�(y霉n)琛�锛屽皪(du矛)閲戝爆褰㈡垚浼板�煎鍒讹紝浣嗗緸甯傚牬(ch菐ng)鍙嶆噳(y墨ng)渚�(l谩i)鐪�锛岄墰鍍�(ji脿)搴曢儴闊屾�т粛鐒惰純寮�(qi谩ng)銆傛暣楂斾締(l谩i)鐪�锛岀敘(ch菐n)妤�(y猫)缂轰箯鏄庣⒑鍠倞椹�(q奴)鍕�(d貌ng)锛岄爯(y霉)瑷�(j矛)閴涘児(ji脿)鐭湡缍寔绐勫箙闇囪暕锛岄渶璺熻工瀹忚鎯呯窉鍙婄ぞ鏈�(hu矛)搴�(k霉)瀛樿畩鍕�(d貌ng)銆傜暥(d膩ng)鍓嶉墰甯備緵闇�鍏╂贰鏍煎眬寤剁簩(x霉)锛屼笅娓歌搫闆绘睜姝ｈ檿鍌崇当(t菕ng)娣″锛屼紒妤�(y猫)閲囪臣(g貌u)璎�(j菒n)鎱�锛屼互鍓涢渶瑁�(b菙)搴�(k霉)鐐轰富锛屽競鍫�(ch菐ng)浜ゆ姇娓呮贰銆傜う绔緵鎳�(y墨ng)鏁撮珨鍋忕穵锛岄珮鍝佷綅閴涚簿绀︽祦閫氱█缂�锛岄��(j矛n)鍙ｅ姞宸ヨ不(f猫i)缍寔浣庝綅锛屽喍鐓夊粻鐢熺敘(ch菐n)鍩烘湰姝ｅ父锛屾垚鏈瀛樺湪鍓涙�ф敮鎾�锛屾捣澶栫う绔閲忔湁闄�銆傜稖鍚堢湅锛屽畯瑙�澹撳埗灏�(du矛)澹樹緵鎳�(y墨ng)绔埄濂�锛岄渶姹傜鐤茶粺浣嗗湅(gu贸)鍏�(n猫i)澶栧韩(k霉)瀛樼┅(w臎n)瀹氱劇(w煤)鏄庨’澧炲姞锛岀枈鍔犳椇瀛ｄ締(l谩i)鑷ㄥ墠鐨勪綆鍍�(ji脿)鍌欏韩(k霉)闋�(y霉)鏈燂紝閴涘児(ji脿)鐩墠鍙嶅綀鍔涘害钖勫急浣嗘敮鎾愪害涓嶅急銆�
閹�
闅ㄨ憲缇庡厓鍐嶅害璧拌粺锛屽競鍫�(ch菐ng)棰�(f膿ng)闅�(xi菐n)鍋忓ソ鍥炲崌锛屽姞涔嬫姇璩囪�呴�綆璨�(m菐i)鐩�(p谩n)鍏ュ競鐨勬彁鎸�锛岄殧澶滃�暒閲戝爆甯傚牬(ch菐ng)鍐嶅害鍏ㄧ窔闇囪暕鏀跺崌锛岄幊鍍�(ji脿)闅ㄥ嫝(sh矛)璧伴珮銆傚�暒涓夊��(g猫)鏈堟湡閹虫渶鍚庢敹?q菒ng)?b脿o)姣忓櫢16885缇庡厓锛岀洡(p谩n)涓敱璺岃綁(zhu菐n)鍗�锛屾疾骞呯董鎸佸湪0.4%闄勮繎锛屾鍓嶄富瑕佺敓鐢�(ch菐n)鍦�(gu贸)鍗板害灏艰タ浜炶〃绀哄皻鏈⒑瀹�2026骞寸殑閹崇敘(ch菐n)閲忛厤椤嶏紝鐩＄甯傚牬(ch菐ng)姝ゅ墠鐚滄脯(c猫)閰嶉灏囨渻(hu矛)涓婅(di脿o)銆傚彟澶�锛屾渶鏂板叕甯冪殑涓�绯诲垪缇庡湅(gu贸)缍�(j墨ng)婵�(j矛)鏁�(sh霉)鎿�(j霉)锛堝寘鎷�氳劰鏁�(sh霉)鎿�(j霉)锛夌暐寰墛寮变簡甯傚牬(ch菐ng)灏�(du矛)缇庤伅(li谩n)鍎�(ch菙)浠婂勾鍔犳伅鐨勯爯(y霉)鏈�锛涚編鍏冩寚鏁�(sh霉)鐢辨璧拌粺锛岀偤閲戝爆鍍�(ji脿)鏍兼彁渚涗簡鏀拹銆傚湅(gu贸)鍏�(n猫i)鏂归潰锛屽鐩�(p谩n)婊湡閹崇洡(p谩n)涓珮闁�(k膩i)涓嬭锛屽皬骞呮敹鍗�锛岀洰鍓嶉棞(gu膩n)娉�13钀�(w脿n)鍏冧竴绶氭敮鎾�銆傛渶鍚庢敹?q菒ng)?b脿o)姣忓櫢130020鍏�锛屾疾骞呯偤300鍏冩垨0.23%銆傜煭绶氬畯瑙�鍥犵礌褰遍熆鍍�(ji脿)鏍艰定鍕�(sh矛)锛岀洡(p谩n)闈㈠急鍕�(sh矛)鐩�(p谩n)鏁�锛岀煭绶氬競娉佽〃鐝�(xi脿n)渚濊垔绺介珨鍋忔贰锛屾贰瀛ｄ箣鍚庢湡娑堣不(f猫i)鍑虹従(xi脿n)鏈�(hu矛)鍚﹀嚭鐝�(xi脿n)濂借綁(zhu菐n)灏氬緟瑙�瀵�銆�
閷�
涓昏鍙楀埌鎶曡硣鑰呴�綆鍚哥磵鐨勬敮鎾�锛岀編鍏冭蛋杌熶互鍙婇噾铻嶅競鍫�(ch菐ng)鐨勬▊(l猫)瑙�鎯呯窉鍧囧付鍕�(d貌ng)闅斿鍊暒閲戝爆甯傚牬(ch菐ng)琛屾儏鍐嶅害鍏ㄧ窔璧板挤(qi谩ng)锛岄尗鍍�(ji脿)闇囪暕璧伴珮锛屾摵鑴穼鍕�(sh矛)銆侺ME涓夊��(g猫)鏈堟湡閷洡(p谩n)涓疾骞呯董鎸佸湪1.9%闄勮繎锛屾渶鍚庢敹?q菒ng)?b脿o)姣忓櫢50620缇庡厓銆傞殧澶滆彲鐖捐鑲″競涓婃疾锛屽洜?y脿n)妯鹃厭顑欐彏^缇庡厜锛圡icron锛夊拰楂橀�氾紙Qualcomm锛夌櫦(f膩)甯冨挤(qi谩ng)鍕佺殑璨�(c谩i)鍫�(b脿o)鍙婃キ(y猫)绺�(j墨)闋�(y霉)鏈�锛岄噸鏂伴粸(di菐n)鐕冧簡浜哄伐鏅鸿兘锛圓I锛夌浉闂�(gu膩n)鑲＄エ鐨勬疾鍕�(sh矛)锛涜�岄尗鍦ㄤ汉宸ユ櫤鑳芥暩(sh霉)鎿�(j霉)涓績绛夊缓瑷�(sh猫)涓笉鍙垨缂恒�傚悓鏅�(sh铆)缇庡厓鎸囨暩(sh霉)璧拌粺锛屼篃鐐洪噾灞児(ji脿)鏍兼彁渚涗簡鏀拹銆傚湅(gu贸)鍏�(n猫i)鏂归潰锛屽鐩�(p谩n)婊湡閷珮闁�(k膩i)涓嬭锛屽皬骞呮敹鍗�锛屼絾涓婃柟39钀�(w脿n)鍏冧竴绶氬鍒剁尪鍦ㄣ�傛渶鍚庢敹?q菒ng)?b脿o)姣忓櫢388440鍏�锛屾疾骞�3500鍏冩垨0.91%銆傚児(ji脿)鏍煎崁(q奴)闁撹(di脿o)鏁�锛岄棞(gu膩n)娉ㄧ従(xi脿n)甯傚績鎱�(t脿i)鍙婂(sh铆)闅涙秷璨�(f猫i)闈㈣〃鐝�(xi脿n)锛屽強瀹忚娑堟伅鏄惁绻肩簩(x霉)褰遍熆鍍�(ji脿)鏍艰定鍕�(sh矛)銆�