矿业ETF（561330）涨超1.2%，内外政策暖风支撑工业金属价格

Core Viewpoint - The mining ETF (561330) has risen over 1.2%, supported by favorable domestic and international policies that bolster industrial metal prices [1] Economic Indicators - The U.S. June CPI rebounded to 2.7%, alongside a 0.6% month-on-month increase in retail data, indicating persistent consumer resilience and supporting inflation expectations for industrial metal prices [1] - The market anticipates a 50.8% probability of an interest rate cut by the Federal Reserve in September [1] - China's GDP growth for the first half of the year was 5.3%, with cumulative export growth of 5.9% [1] Policy Environment - The ongoing "anti-involution" policies are continuously releasing support, and with a generally warm policy tone both domestically and internationally, the pressure on prices during the off-season is limited [1] - It is expected that the peak season and interest rate cut expectations will boost industrial metal prices after mid-August [1] - The industrial metal prices are likely to operate on a strong trend in the second half of the year under a backdrop of domestic and international policy easing [1] ETF and Index Information - The mining ETF (561330) tracks the non-ferrous metal mining index (931892), which is compiled by China Securities Index Co., Ltd. This index selects listed companies involved in the mining, smelting, and processing of non-ferrous metals from the A-share market to reflect the overall performance of related listed companies [1] - The index exhibits strong cyclicality and resource attributes, effectively reflecting market trends in the non-ferrous metal industry chain [1] - Investors without stock accounts can consider the Guotai CSI Non-Ferrous Metal Mining Theme ETF Initiated Link A (018167) and Guotai CSI Non-Ferrous Metal Mining Theme ETF Initiated Link C (018168) [1]