矿业ETF（561330）涨超1.7%，连续3日资金净流入，把握年内涨超有色的矿业ETF布局机会

Core Viewpoint - The mining ETF (561330) has increased by over 1.7% with net inflows for three consecutive days, presenting an opportunity for investment in the mining sector, particularly in non-ferrous metals [1] Group 1: Market Conditions - The expectation for a Federal Reserve interest rate cut in December has cooled, leading to a stable overall macroeconomic outlook despite fluctuations [1] - The raw material market remains tight, gradually affecting the smelting sector, while the end-user demand shows divergence [1] - Basic metals are experiencing slightly weak supply and demand dynamics, with a general expectation of tightness in the market [1] Group 2: Sector Performance - In early November, automotive sales growth has slowed, and production of air conditioning units is expected to decline further in November and December [1] - Short-term supply disruptions are likely to support basic metal prices, but fluctuating macroeconomic expectations and moderate demand may limit price increases [1] - Long-term expectations for domestic stimulus policies and ongoing supply disruptions in copper, aluminum, and tin suggest a continued tightening in supply and demand, supporting a positive outlook for non-ferrous metal prices [1] Group 3: ETF Characteristics - The mining ETF (561330) tracks the non-ferrous mining index (931892), which includes companies involved in the development of copper, aluminum, lead, zinc, and rare metals [1] - The ETF has outperformed the CSI Non-Ferrous Index by over 10% this year, with a higher concentration in leading companies and a greater proportion of "gold, copper, and rare earths" [1]