铜占比超60%的有色ETF大成(159980)高开涨近3%，连续40日强势“吸金”超46亿元，机构称强基本面或将支撑铜价

Group 1 - The core viewpoint is that the industrial metal market, particularly copper, is expected to experience a supply shortage due to various constraints, while demand is projected to grow, driven by economic recovery and the energy transition [1][2][3] - The recent performance of the Dazhong Nonferrous ETF (159980) shows a significant increase in both scale and shares, reaching a new high of 79.24 billion yuan and 3.73 billion shares respectively, with a notable net inflow of 46.63 billion yuan over the past 40 days [1] - Copper prices have shown resilience despite multiple negative factors, with recent prices recorded at $13,128 per ton in London and 102,830 yuan per ton in Shanghai, supported by supply constraints and declining ore grades [1][2] Group 2 - Citic Securities highlights that the prices of industrial metals are influenced by both financial and commodity attributes, with expectations of a recovery in demand for copper and aluminum due to low global inventories and economic recovery in China [2] - Huatai Securities forecasts that global electrolytic copper supply will remain limited in 2026, with a year-on-year increase of only 66,000 tons, while demand is expected to grow by 93,000 tons, potentially leading to a shift from surplus to shortage [2] - The Dazhong Nonferrous ETF (159980.SZ) is positioned to capture overall opportunities in the industrial metal sector, with its underlying assets including copper, aluminum, lead, tin, zinc, and nickel futures [3]