Ge Long Hui·2025-11-25 05:55Core Viewpoint - The non-ferrous metals sector is experiencing significant gains, with the leading non-ferrous metals ETF (159876) seeing a peak increase of 2.7% and currently up by 1.88%, indicating strong market confidence in the sector's future performance [1][4]. Fund Performance - The non-ferrous metals ETF (159876) has attracted a total of 213 million yuan in the past 10 days, reflecting positive investor sentiment towards the sector [1]. - As of November 24, the ETF's latest scale reached 676 million yuan, making it the largest among three ETFs tracking the same index in the market [1]. Stock Performance - Key stocks within the ETF have shown strong performance, with Huaxi Nonferrous Metals hitting the daily limit, and other stocks like Western Gold, Xiyang Co., and Zhongjin Gold rising over 4% [3][4]. Market Outlook - Institutions are optimistic about the continuation of a bull market in the non-ferrous metals sector. Zhongtai Securities is particularly bullish on a comprehensive bull market, while CITIC Securities anticipates sustained investment interest in commodities [4][5]. - Three main investment themes are highlighted: 1. Industrial metals like copper and aluminum, which are expected to benefit from supply constraints and recovering demand. 2. Energy metals such as lithium and cobalt, which are poised to gain from the explosive demand in energy storage and power batteries. 3. Strategic assets like gold and rare earths [4][5]. Investment Strategy - A diversified investment approach through the non-ferrous metals ETF (159876) and its associated funds is recommended to capture the overall sector's beta performance while mitigating risks associated with investing in single metal industries [5].