要点供应端:2026年四大矿山铁矿石增量预计达1700万吨,非主流矿增量达5450万吨,合计新项目增量约7150万吨,其中主要增量来自西芒杜项目产能爬坡和Vale,剔除产能枯竭量约4000万吨,最终增量预期为约3150万吨。中国供应增量方面,我们预计西芒杜项目超九成发往中国,其余项目增量按中国铁矿石需求在全球的占比测算,则预计2026年中国进口矿同比增加约2750万吨,占全球增量的87%。需求端:...
Source Link要点供应端:2026年四大矿山铁矿石增量预计达1700万吨,非主流矿增量达5450万吨,合计新项目增量约7150万吨,其中主要增量来自西芒杜项目产能爬坡和Vale,剔除产能枯竭量约4000万吨,最终增量预期为约3150万吨。中国供应增量方面,我们预计西芒杜项目超九成发往中国,其余项目增量按中国铁矿石需求在全球的占比测算,则预计2026年中国进口矿同比增加约2750万吨,占全球增量的87%。需求端:...
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