资金追捧！年内有色金属指数狂飙80%，主题ETF吸金185亿

Core Viewpoint - The non-ferrous metals sector has experienced a remarkable 80% increase in the Shenwan first-level industry index this year, driven by global liquidity expectations, supportive policies, and new demands from AI and renewable energy [1][3]. Group 1: Market Performance - The Shenwan non-ferrous metals index has risen by 80.45% year-to-date, with the copper index soaring over 103% [3]. - Eight themed ETFs in the non-ferrous metals sector have attracted a total of 18.5 billion yuan in investments this year, indicating strong market interest [1][3]. - In the first week of December alone, the non-ferrous metals index surged by 5.35%, outperforming all other sectors [1]. Group 2: Investment Trends - Institutional consensus is reflected in the significant net inflow of 18.5 billion yuan into non-ferrous metals ETFs, with the Southern Non-Ferrous Metals ETF alone attracting approximately 7.5 billion yuan [3]. - Recent data shows a net inflow of 394 million yuan into the non-ferrous metals industry over the past five days, including rare earths, tungsten, and copper [4]. Group 3: Supply and Demand Dynamics - The supply constraints in the copper market are expected to persist, with major copper companies facing challenges such as declining ore grades and rising extraction costs [6][7]. - The demand for metals like copper and aluminum is anticipated to surge due to emerging industries such as renewable energy and AI data centers, creating a favorable long-term outlook [7]. Group 4: Future Outlook - Analysts predict that basic metals like copper, aluminum, and tin will see improved performance by 2026 due to the combination of new demand and supply constraints [5]. - The market is currently optimistic about non-ferrous metals, with expectations of continued strong performance driven by solid fundamentals and a bullish market atmosphere [6][8].