Core Viewpoint - Precious metals and industrial metals are experiencing significant price increases, with gold prices reaching a historic high of $4,465 per ounce, driven by expectations of further interest rate cuts by the Federal Reserve, which is favorable for precious metals [3]. Group 1: Precious Metals - Gold prices have surged, marking a 2.4% increase in the previous trading day, the largest single-day gain in over a month [3]. - Shandong Gold has seen its stock price rise over 6%, alongside other companies in the sector such as Zhongtung High-tech and Xiamen Tungsten [1]. - The mining ETF (159690) has increased by 1.71%, reaching a new high of 1.906 yuan since its listing [1]. Group 2: Industrial Metals - Industrial metal prices are also on the rise, with LME copper increasing by 2.75% and LME aluminum by 2.80% last week, while Shanghai tin saw a weekly increase of 6.98% [3]. - The demand for refined copper is expected to tighten around 2026, with optimistic economic growth forecasts for the U.S. and resilient copper demand anticipated from China [3]. Group 3: Financial Performance - The non-ferrous metal industry has shown strong profitability, with a year-on-year net profit growth of 41.43% for the first three quarters of 2025, and a further increase to 50.81% in the third quarter [4]. - The non-ferrous mining index has demonstrated even greater elasticity, with net profit growth rates of 49.48% for the first three quarters and 55.62% for the third quarter [5]. Group 4: ETF Composition - The mining ETF (159690) closely tracks the non-ferrous mining index, focusing on key metal resources such as copper, gold, rare earths, aluminum, and lithium [6]. - The top ten constituent stocks of the ETF include leading companies in various segments, such as Northern Rare Earth, Zijin Mining, and Tianqi Lithium [6].
有色板块爆发，机构：黄金锚定避险，铜铝受益复苏！资源类ETF成配置焦点
Jin Rong Jie·2025-12-23 02:50