小金属景气度或持续向上，稀有金属ETF(562800)有望持续受益

Group 1 - The rare metals sector is experiencing a pullback as of November 21, 2025, with the China Securities Rare Metals Theme Index declining, led by Tianhua New Energy and followed by Jiangte Electric, Ganfeng Lithium, Tibet Mining, and Shengxin Lithium [1] - Lithium carbonate prices have surged due to significant demand growth in downstream sectors such as energy storage and power batteries, with futures contracts recently surpassing 100,000 yuan/ton, reaching as high as 102,200 yuan/ton on November 20 [1] - The Democratic Republic of Congo has announced a suspension of cobalt exports to address oversupply in the international market, resulting in cobalt prices rising to around 400,000 yuan/ton, aligning with the government's expectations [1] Group 2 - As of October 31, 2025, the top ten weighted stocks in the China Securities Rare Metals Theme Index include Northern Rare Earth, Luoyang Molybdenum, Huayou Cobalt, and others, collectively accounting for 60% of the index [2] - The Rare Metals ETF (562800) tracks the China Securities Rare Metals Theme Index, providing a convenient tool for investing in the rare metals sector [3] - Investors can also explore investment opportunities in the rare metals sector through the Rare Metals ETF linked fund (014111) [4]