Core Viewpoint - The recent surge in the non-ferrous metal sector is driven by a significant policy announcement aimed at stabilizing growth in the industry, leading to a notable increase in stock prices for related companies in both Hong Kong and A-shares markets [3][4]. Group 1: Market Performance - In the Hong Kong stock market, several non-ferrous metal companies saw substantial gains, including Zijin Mining (+5.60%), Ganfeng Lithium (+5.37%), and China Aluminum International (+5.29%) [1]. - A-shares also experienced a positive trend, with companies like Yicheng New Energy and Boqian New Materials hitting the daily limit up, and Hengdian East Magnetic rising by 6.16% [2]. Group 2: Policy Impact - The Ministry of Industry and Information Technology, along with eight other departments, released the "Non-Ferrous Metal Industry Stabilization Growth Work Plan (2025-2026)", projecting an average annual growth of around 5% in the industry's added value and a 1.5% increase in the production of ten major non-ferrous metals [3]. - The plan addresses current challenges in the industry, proposing ten initiatives focused on resource security, supply optimization, transformation promotion, consumption expansion, and strengthening cooperation [3]. Group 3: Industry Outlook - The non-ferrous metal industry is showing strong performance, with a reported 7.8% year-on-year increase in the added value of large-scale non-ferrous metal industries from January to August 2025, outpacing the overall industrial growth [3]. - Analysts from various institutions express optimism about the sector's future, citing factors such as potential interest rate cuts by the Federal Reserve and seasonal demand increases in the aluminum and lithium markets [5].

Group 1 - China Aluminum's stock price increased by 5.12% to 8.01 CNY per share, with a trading volume of 2.586 billion CNY and a turnover rate of 2.50%, resulting in a total market capitalization of 137.417 billion CNY [1] - The stock has seen a continuous rise for three days, with a cumulative increase of 0.53% during this period [1] - China Aluminum's main business includes exploration and mining of bauxite and coal, production and sales of alumina, primary aluminum, and aluminum alloy products, as well as international trade and logistics [1] Group 2 - New沃 Fund has a significant holding in China Aluminum, with its New沃 Tongying Flexible Allocation Mixed Fund (002564) holding 42,100 shares, accounting for 4.36% of the fund's net value, making it the second-largest holding [2] - The fund has generated a floating profit of approximately 16,400 CNY today, with a total floating profit of 1,684 CNY during the three-day increase [2] - The New沃 Tongying Flexible Allocation Mixed Fund was established on September 22, 2016, and has a current size of 6.8023 million CNY, with a year-to-date return of 11.51% [2] Group 3 - The fund manager of New沃 Tongying Flexible Allocation Mixed Fund is Liu Tengfei, who has been in the position for 3 years and 291 days, managing assets totaling 43.5905 million CNY [3] - During Liu's tenure, the best fund return was 16.73%, while the worst return was -48.15% [3]

Group 1 - China Aluminum's stock price increased by 5.12% to 8.01 CNY per share, with a trading volume of 2.587 billion CNY and a turnover rate of 2.50%, resulting in a total market capitalization of 137.417 billion CNY [1] - The stock has experienced a continuous rise for three days, with a cumulative increase of 0.53% during this period [1] - China Aluminum's main business includes exploration and mining of bauxite and coal, production and sales of alumina, primary aluminum, and aluminum alloy products, as well as international trade and logistics [1] Group 2 - The Qianhai Kaiyuan Multi-Strategy Mixed A Fund (004496) holds China Aluminum as its largest position, having reduced its holdings by 26,600 shares in the second quarter, now holding 953,300 shares, which accounts for 1.51% of the fund's net value [2] - The fund has realized a floating profit of approximately 371,800 CNY today, with a floating profit of 38,100 CNY during the three-day increase [2] - The fund has achieved a year-to-date return of 35.33%, ranking 2,354 out of 8,244 in its category, and a one-year return of 50.24%, ranking 2,305 out of 8,080 [2]

Core Viewpoint - The Hong Kong stock market saw significant activity in the non-ferrous metal sector on September 29, with several companies experiencing notable stock price increases [1] Company Summaries - Ganfeng Lithium (01772.HK) rose by 6.01%, reaching HKD 39.5 [1] - Chalco International (02068.HK) increased by 4.41%, trading at HKD 2.37 [1] - Zhaojin Mining (01818.HK) saw a rise of 4.02%, with shares priced at HKD 30.52 [1] - Luoyang Molybdenum (03993.HK) gained 3.44%, with a stock price of HKD 14.45 [1] - China Aluminum (02600.HK) experienced a 3.97% increase, reaching HKD 7.85 [1] - Jiangxi Copper (00358.HK) rose by 2.45%, trading at HKD 27.6 [1]

Core Viewpoint - The non-ferrous metal sector is experiencing significant activity, with various companies showing notable stock price increases following the release of a growth plan by the Ministry of Industry and Information Technology for 2025-2026 [1] Group 1: Stock Performance - Ganfeng Lithium (01772) increased by 6.01%, reaching 39.5 HKD [1] - Chalco International (02068) rose by 4.41%, priced at 2.37 HKD [1] - Zhaojin Mining (01818) saw a 4.02% increase, now at 30.52 HKD [1] - Luoyang Molybdenum (03993) grew by 3.44%, trading at 14.45 HKD [1] - China Aluminum (02600) increased by 3.97%, priced at 7.85 HKD [1] - Jiangxi Copper (00358) rose by 2.45%, now at 27.6 HKD [1] Group 2: Industry Growth Plan - The growth plan indicates an average annual growth of approximately 5% in the added value of the non-ferrous metal industry from 2025 to 2026 [1] - The production of ten major non-ferrous metals is expected to grow at an average annual rate of about 1.5% during the same period [1] - Positive progress is anticipated in the domestic resource development of copper, aluminum, and lithium [1] Group 3: Market Sentiment and Forecast - Guohai Securities suggests that the recent interest rate cuts by the Federal Reserve and the introduction of the growth plan have boosted industry sentiment [1] - The operating rate in the downstream aluminum processing sector is on the rise, with a significant inventory turning point observed [1] - Minsheng Securities notes that with the Federal Reserve's rate cuts and ongoing demand during the "Golden September and Silver October" peak season, industrial metal prices are likely to continue rising [1]

消息面上，9月28日，工业和信息化部等八部门印发《有色金属行业稳增长工作方案（2025—2026 年）》，其中提到，2025—2026年，有色金属行业增加值年均增长5%左右，十种有色金属产量年均增 长1.5%左右，铜、铝、锂等国内资源开发取得积极进展。国海证券认为，短期来看，美联储如期降 息，且仍有进一步降息预期；有色金属行业稳增长工作方案出台，提振行业情绪。下游铝加工环节开工 率仍在持续回升中，库存拐点基本出现，关注"金九银十"旺季机会。民生证券指出，美联储降息落地， 商品供给干扰频发，伴随美国财政货币双宽松，叠加国内"金九银十"旺季需求，工业金属价格有望继续 上行。 有色股早盘活跃，截至发稿，赣锋锂业（002460）(01772)涨6.01%，报39.5港元；中铝国际（601068） (02068)涨4.41%，报2.37港元；招金矿业(01818)涨4.02%，报30.52港元；洛阳钼业（603993）(03993)涨 3.44%，报14.45港元；中国铝业（601600）(02600)涨3.97%，报7.85港元；江西铜业（600362）股份 (00358)涨2.45%，报27.6港元。 ...

Core Viewpoint - The Ministry of Industry and Information Technology, along with seven other departments, has issued a "Work Plan for Stable Growth in the Nonferrous Metal Industry (2025-2026)", aiming to address structural issues and promote sustainable growth in the industry [1][2]. Group 1: Industry Goals and Objectives - The work plan sets a target for the nonferrous metal industry to achieve an average annual value-added growth of around 5% from 2025 to 2026 [2]. - It aims for an average annual production growth of 1.5% for ten types of nonferrous metals, with significant progress in domestic resource development for copper, aluminum, and lithium [2]. - The plan includes a target to exceed 20 million tons in the production of recycled metals and to enhance the supply capacity of high-end products [2]. Group 2: Key Initiatives - The work plan outlines ten initiatives focusing on resource conservation, supply optimization, transformation promotion, consumption expansion, and cooperation strengthening [2]. - It emphasizes efficient resource utilization and the implementation of a new round of exploration strategies, particularly for copper, aluminum, lithium, nickel, cobalt, and tin [2][3]. - The plan supports the development of green and efficient mining technologies for low-grade and complex ores, as well as the comprehensive utilization of waste nonferrous metals and emerging solid waste [2]. Group 3: Industry Challenges and Responses - The nonferrous metal industry faces structural challenges, including insufficient domestic supply of key metals like copper and aluminum, despite having some advantages in resource endowment and extraction [3]. - Companies like China Aluminum Corporation are expected to actively participate in the new exploration strategy, enhancing resource investigation and accelerating new mine construction [3]. - The work plan also stresses the importance of maintaining a dynamic balance between total supply and demand, avoiding irrational behaviors in the new energy mineral sector, and promoting strategic cooperation across the industry chain [4].

港交所消息：9月22日， 贝莱德 持有的 中国铝业 H股多头头寸从5.95%增至6.45%。 ...

Core Viewpoint - The Hong Kong stock market saw a significant rise in the non-ferrous metal sector, driven by supply concerns following Freeport McMoran's announcement of force majeure at its Grasberg mine in Indonesia, which is critical to global copper supply [1] Group 1: Market Performance - China Daye Nonferrous Metals rose over 12.5%, with a year-to-date increase of 31.25% [2] - Luoyang Molybdenum increased by 11.01%, marking a staggering year-to-date rise of 179.76% [2] - Jiangxi Copper Co. saw an increase of 7.98%, with a year-to-date growth of 128.95% [2] - Jinchuan Group's share price rose by 5.71%, with a year-to-date increase of 189.09% [2] - Zijin Mining's stock increased by 4.59%, with a year-to-date rise of 128.01% [2] - Ganfeng Lithium's shares rose by 3.35%, with a year-to-date increase of 94.93% [2] Group 2: Supply Concerns - Freeport McMoran's Grasberg mine accounts for 3.2% of global copper supply and over 70% of the company's total copper production [1] - The unexpected supply disruption is expected to impact global copper production by more than 6% [1]

Group 1 - The Hong Kong stock market saw a significant rise in the non-ferrous metal sector, with China Daye Nonferrous Metals up over 12%, Luoyang Molybdenum up over 11% reaching a historical high, Jiangxi Copper up nearly 8%, Jinchuan Group up over 5%, Zijin Mining up over 4%, and Ganfeng Lithium up over 3% [1] - Freeport McMoran announced a force majeure on its Grasberg mine in Indonesia, which has reignited market concerns over supply, pushing LME copper futures to a one-year high [1] - The Grasberg mine accounts for 3.2% of global copper supply and over 70% of Freeport's total copper production, with unexpected supply disruptions expected to impact over 6% of global copper output [1] Group 2 - The stock performance of key companies in the non-ferrous metal sector includes: - China Daye Nonferrous Metals: up 12.50%, latest price at 0.063, market cap at 1.127 billion, year-to-date increase of 31.25% [2] - Luoyang Molybdenum: up 11.01%, latest price at 13.910, market cap at 29.7595 billion, year-to-date increase of 179.76% [2] - Jiangxi Copper: up 7.98%, latest price at 26.780, market cap at 9.2732 billion, year-to-date increase of 128.95% [2] - Jinchuan Group: up 5.71%, latest price at 22.200, market cap at 303.8 million, year-to-date increase of 189.09% [2] - Zijin Mining: up 4.59%, latest price at 31.000, market cap at 82.3905 billion, year-to-date increase of 128.01% [2] - Ganfeng Lithium: up 3.35%, latest price at 38.860, market cap at 799.43 million, year-to-date increase of 94.93% [2]