有色金属ETF(512400)盘中涨近1%，近5日资金净流入近4亿元，机构研判有色金属行业景气度有望继续上行

Group 1 - The core viewpoint is that the non-ferrous metal industry is entering a new upward cycle driven by macroeconomic factors, including liquidity easing from the Federal Reserve and supply chain disruptions [1][2] - As of November 27, the non-ferrous metal ETF (512400) has seen a net inflow of 87.28 million yuan, with a total of 396 million yuan in net inflows over the past five trading days [1] - The industrial metal sector is benefiting from multiple macroeconomic positives, with expectations for continued growth in the non-ferrous metal industry's performance into 2026 [1] Group 2 - The long-term investment logic for precious metals remains solid, supported by strong central bank gold purchases and ongoing geopolitical risks [2] - In the aluminum market, prices are expected to approach 3,000 USD per ton by Q1 2026 due to rising copper prices and supply risks [2] - The lithium industry is projected to continue its upward trend, driven by strong demand from the energy storage sector, despite a temporary slowdown in overseas lithium production [2] Group 3 - The non-ferrous metal ETF closely tracks the CSI Shenwan Non-Ferrous Metal Index, which includes 50 listed companies to reflect the overall performance of the non-ferrous metal sector [3] - The top ten weighted stocks in the index include Zijin Mining, Northern Rare Earth, and China Aluminum, among others [3]