Xin Lang Cai Jing·2026-01-28 11:25Group 1 - The non-ferrous metal sector is leading the market with a net inflow of over 34.3 billion yuan, with 16 stocks hitting the daily limit, including Hunan Gold and China Aluminum [1][8] - The popular ETF, Huabao Non-Ferrous Metal ETF (159876), saw its price surge by 7.35% at its peak and closed up 6.95%, reaching a historical high, with a net subscription of 140 million units on the day [1][8] - The ETF has attracted over 1.2 billion yuan in net inflows over the past 20 days, indicating strong investor interest [1][8] Group 2 - President Trump's comments on the dollar's volatility have raised concerns about U.S. dollar policy, leading to a significant drop in the dollar index, which makes dollar-denominated metals cheaper and potentially increases global demand [3][10] - Aluminum prices have reached a nearly four-year high, while spot gold has hit a record high of 5,283 dollars per ounce [3][10] - The upcoming Federal Reserve meeting is expected to lean towards a dovish monetary policy, which may provide a favorable environment for the non-ferrous metal market [3][10] Group 3 - The strong performance of non-ferrous metals is attributed to macroeconomic financial policies and structural changes in supply and demand, with a global easing cycle and a weaker dollar leading to increased liquidity in the sector [3][11] - Emerging demands from AI and new energy sectors, along with domestic policies aimed at regulating industry competition, are expected to further stimulate the non-ferrous metal market [3][11]