CHALCO(SH:601600) Xin Lang Cai Jing·2025-12-03 05:32Group 1 - The China Nonferrous Metals Industry Index (399395) has seen a strong increase of 1.65%, with notable gains in stocks such as Zhongfu Industrial (600595) up 7.17%, Xiyang Co. (000960) up 6.46%, and Yun Aluminum (000807) up 5.49% [1] - The cumulative production of alumina in China from January to October 2025 reached 75.36 million tons, reflecting a year-on-year increase of 6.77%, indicating a significant oversupply situation [1] - The operating capacity of electrolytic aluminum has reached 44.449 million tons, with a capacity utilization rate of 99.41%, approaching the policy ceiling of 45 million tons, suggesting limited supply elasticity [1] Group 2 - China Galaxy Securities noted that the market's expectation for a Federal Reserve rate cut in December has risen above 80% following dovish comments from New York Fed President Williams and a weak labor market report [2] - The ongoing easing of liquidity conditions is likely to continue supporting the prices of gold and silver [2] - The Nonferrous ETF fund closely tracks the China Nonferrous Metals Industry Index, which reflects the overall performance of listed companies in the nonferrous metals sector [2] Group 3 - As of November 28, 2025, the top ten weighted stocks in the China Nonferrous Metals Industry Index include Zijin Mining (601899), Luoyang Molybdenum (603993), and Northern Rare Earth (600111), collectively accounting for 52.34% of the index [3]