有色金属板块暴力反弹，工业有色ETF(560860)上涨2.40%，近5日累计“吸金”1.56亿元

Core Viewpoint - The A-share market is experiencing a rebound in the non-ferrous metals sector, with significant increases in key stocks and ETFs, driven by favorable market conditions and expectations of monetary policy shifts from the Federal Reserve [1][2]. Group 1: Market Performance - As of November 25, 2025, the three major A-share indices opened high, with the industrial non-ferrous metal theme index rising by 2.43% [1]. - Key stocks such as Dongyang Sunshine, Zhongjin Gold, and Luoyang Molybdenum saw increases of 6.04%, 4.96%, and 4.76% respectively [1]. - The Industrial Non-Ferrous ETF (560860) increased by 2.40%, with a cumulative rise of 18.46% over the past three months as of November 24, 2025 [1]. Group 2: Liquidity and Fund Flows - The Industrial Non-Ferrous ETF had a turnover rate of 1.1% during the trading session, with a transaction volume of 62.7573 million yuan [1]. - As of November 24, 2025, the latest scale of the Industrial Non-Ferrous ETF reached 5.627 billion yuan [1]. - Over the past five trading days, the ETF attracted a total of 156 million yuan in inflows [1]. Group 3: Future Outlook - According to Dongfang Securities, the non-ferrous metals sector is entering a new cycle driven by supply-demand balance, with a relatively independent trend [2]. - CITIC Construction believes that the non-ferrous bull market is expected to advance in 2026 [2]. - Key investment themes include industrial metals like copper and aluminum with constrained supply and recovering demand, energy metals like lithium and cobalt benefiting from battery demand, and strategic assets like gold and rare earths [2]. - As of October 31, 2025, the top ten weighted stocks in the industrial non-ferrous metal theme index accounted for 54.18% of the index, including Northern Rare Earth, Luoyang Molybdenum, and China Aluminum [2].