Chengxin Lithium(SZ:002240) Xin Lang Ji Jin·2025-11-13 05:14Core Viewpoint - The non-ferrous metal sector has experienced a significant surge, with major stocks reaching their daily limit, driven by strong performance and favorable market conditions [1][3]. Group 1: Market Performance - As of the end of October, the non-ferrous metal sector has seen a cumulative increase of 75.9% year-to-date, outperforming other sectors such as telecommunications (61.88%) and electronics (48.1%) [3][4]. - The non-ferrous metal ETF (159876) has shown a strong intraday increase of 4.79%, with a trading volume exceeding 65 million yuan [1]. Group 2: Earnings and Industry Drivers - In the third quarter of 2025, 56 out of 60 companies in the non-ferrous metal ETF reported profits, with 44 companies showing year-on-year growth in net profit. Notably, Chujiang New Materials saw a 20-fold increase in net profit [4]. - The current bull market in non-ferrous metals is characterized as a "new productivity bull market," driven by demand from emerging sectors such as renewable energy, AI, and aerospace, alongside supply-side disruptions [4][5]. Group 3: Policy Support and Future Outlook - Eight government departments have jointly issued a plan to stabilize growth in the non-ferrous metal industry, focusing on resource security and digital upgrades [5]. - Analysts predict that the non-ferrous metal sector will enter a new cycle of supply-demand balance, with continued upward pressure on prices for copper and cobalt due to supply constraints [5].