为何说有色行情还远远没走完？有色ETF华宝（159876）盘中拉升1%，冲击3连阳！近10日狂揽6.35亿元！

Core Viewpoint - The non-ferrous metal sector is experiencing a strong rally, with the Huabao Non-Ferrous ETF (159876) showing resilience and attracting significant capital inflow, indicating a bullish sentiment in the market [1][11]. Group 1: Market Performance - The Huabao Non-Ferrous ETF (159876) increased by 1.06% today, marking two consecutive days of gains and aiming for a third [1][11]. - The ETF has seen a net subscription of 21.6 million units, accumulating a total of 635 million yuan over the past ten days [1][11]. - Key stocks in the sector, such as Hunan Silver and Shengxin Lithium Energy, have shown significant price increases, with Hunan Silver leading at 8.23% [2][4][14]. Group 2: Industry Insights - Analysts suggest that the current non-ferrous metal cycle is part of a longer-term trend, with historical cycles lasting 25-30 years, indicating that the current upward trend may persist for several years [3][13]. - The sector is expected to benefit from a combination of factors, including global capital expenditure cycles, manufacturing recovery, and improved domestic macroeconomic expectations [3][13]. - The Huabao Non-Ferrous ETF is the largest among three ETFs tracking the CSI Non-Ferrous Metal Index, with a recent scale of 1.665 billion yuan, setting a new historical high [5][15]. Group 3: Future Outlook - The industry is anticipated to enter a bull market driven by monetary, demand, and supply factors by 2026, with institutions broadly optimistic about a comprehensive bull market in non-ferrous metals [5][13]. - The ongoing geopolitical uncertainties and central bank gold purchases are expected to support long-term gold prices, reinforcing the bullish outlook for precious metals [2][12].