万家基金贺方舟：建议将工业有色视为一种“战略资源资产”

Core Viewpoint - The long-term investment perspective on industrial non-ferrous metals should be viewed as a "strategic resource asset" benefiting from global liquidity easing and the future of electrification and digitalization, rather than merely a cyclical commodity [1] Group 1: Market Outlook - The manager is optimistic about the medium to long-term performance of the non-ferrous metals sector [1] - The Federal Reserve entering a rate-cutting cycle is favorable for dollar-denominated non-ferrous metals [1] - Supply-side disruptions, including accidents in South American and Central African copper mines, have led to tight supply, exacerbated by the recent mining accident at Indonesia's Grasberg copper mine [1] Group 2: Demand Factors - The demand for industrial metals is continuously rising, driven by energy transition and the AI wave [1]