澳大利亚大宗商品、基本金属及钢铁：覆盖范围总结、预测及现货定价情景

GS Australian Bulks, Base Metals & SteelsCoverage summary, forecasts and spot pricing scenariosJune 2025Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to www.gs.com/research/hedge.html. Analysts employed by non-US affiliates are not registered/qualified as research analysts with FINRA in the U.S.The Goldman Sachs Group, Inc.Paul Young Goldman Sachs Australia Pty Ltd +61 2 9321 8302 paul.young1@gs.com Chris Bulgin Goldman Sachs Australia Pty Ltd +61 2 9321 8936 chris.bulgin@gs.com Hugo Nicolaci Goldman Sachs Australia Pty Ltd +61 2 9321 8323 hugo.nicolaci@gs.comMarcus Dosanjh Goldman Sachs Australia Pty Ltd +61 2 9321 878