Jin Rong Jie·2025-12-26 02:54Core Viewpoint - The market is experiencing an upward trend, particularly in the metals sector, driven by various factors including macroeconomic liquidity improvements and specific supply-demand dynamics in different metal categories [1]. Summary by Category Market Performance - On December 26, the Shanghai and Shenzhen markets showed a fluctuating upward trend, with the Shanghai Composite Index rising by 0.33% and the Shenzhen Component Index increasing by 0.6% [1]. - The non-ferrous metals sector saw a rise of 1.63%, while the small metals sector increased by 1.94%, and the gold sector rose by 2.38% [1]. Specific Metal Insights - Basic metals like copper and aluminum are facing challenges in downstream demand, yet copper prices are trending upward. Aluminum prices are influenced by capacity releases in Xinjiang and reduced inventories [1]. - Precious metals are supported by expectations of Federal Reserve rate cuts, a weaker dollar, and geopolitical risks, leading to high volatility in gold and silver prices [1]. - Small metal tin is performing strongly due to supply disruptions and positive market sentiment [1]. - The rare earth permanent magnet sector is seeing accelerated supply-side consolidation, with improved export expectations, while demand is waiting for export recovery [1]. - Energy metals like lithium are experiencing price increases due to supply concerns, cobalt prices remain high due to tight supply, and nickel prices are rebounding due to developments in Indonesia [1]. ETF and Investment Opportunities - The non-ferrous metals ETF (512400.SH) has risen by 3.19%, with Luoyang Molybdenum Co., Ltd. increasing by 5.72% [1]. - The ETF tracks the CSI Shenyin Wanguo Non-Ferrous Metals Index, comprising 50 stocks from the non-ferrous metals industry, reflecting the overall performance of the sector and providing exposure to various sub-sectors including precious metals, industrial metals, rare earths, and energy metals [1].