钴价止跌反弹，有色金属ETF基金（516650）近5日持续获资金布局

Core Viewpoint - The market is experiencing fluctuations with the three major indices opening lower, while the CRO and optical module sectors are leading gains, and rural revitalization and feed concepts are declining [1] Group 1: Market Performance - As of 11:10 AM, the non-ferrous metal ETF fund (516650) fell by 0.72%, despite individual stocks like Huayou Cobalt and Tengyuan Cobalt rising over 3% [1] - The non-ferrous metal ETF fund has seen a net subscription of 24.45 million in the past five trading days, indicating increased investor interest [1] Group 2: Cobalt Market Analysis - Cobalt prices have stopped declining and are rebounding, with inventory levels remaining high; however, market inquiries and transactions have improved compared to the previous week [1] - Some downstream companies are preemptively restocking due to bullish sentiment, especially with the Democratic Republic of Congo's ongoing export bans since February and their extension in June [1] - The upcoming peak season in September and October is expected to drive down existing inventory levels, and the Congolese government's firm pricing stance may lead to further delays in exports [1] Group 3: Investment Opportunities - The non-ferrous metal ETF fund tracks the CSI sub-index for the non-ferrous metal industry, focusing on industrial metals (51.7%), minor metals and energy metals (26.8%), and precious metals (16.2%), which are likely to benefit from anti-involution policies [1]