Sou Hu Cai Jing·2026-02-03 06:32Core Viewpoint - The metal sector is experiencing a resurgence, with significant gains in various metal ETFs and stocks, indicating a potential shift in market sentiment and logic restructuring [1] Group 1: Market Performance - As of February 3, the non-ferrous metal ETF (516650) surged by 5.71%, with notable stocks like Hunan Gold hitting the daily limit and others like Zhong Rare Earth and Shenghe Resources rising by 8.77% and 7.23% respectively [1] - The trading volume for the non-ferrous metal ETF reached 50.03 billion yuan, with a turnover rate of 23.26%, reflecting active market participation [1] Group 2: Influencing Factors - The market is gradually stabilizing from extreme sentiments, suggesting a potential restructuring phase for the metal sector [1] - Central bank gold purchases and the increase in gold ETF holdings are expected to support gold prices [1] - Basic metals are likely to face macroeconomic adjustments, but ongoing narratives around AI and supply disruptions, particularly in copper, are expected to provide price support [1] Group 3: Sector Opportunities - Metals such as aluminum (lightweight), tin ("computing metal"), and lithium carbonate (energy storage and power batteries) are anticipated to benefit from the ongoing green industry and technological trends [1] - The CSI Non-ferrous Metal Industry Theme Index (000811) has its top ten weighted stocks, including Zijin Mining and Luoyang Molybdenum, accounting for 51.85% of the index [1]