有色矿业逐步回归基本面逻辑，矿业ETF（561330）收涨超2%

Core Viewpoint - The non-ferrous mining sector is gradually returning to fundamental logic, with the mining ETF (561330) rising over 2% [1] Group 1: Industry Insights - The macro sentiment affecting industrial metals is weakening, allowing copper and aluminum to return to fundamental phases [1] - Industry associations are actively promoting the governance of copper smelting capacity, having halted over 2 million tons of copper smelting projects domestically, effectively curbing the rapid growth of copper smelting capacity [1] - Future efforts will focus on strict control of new copper smelting projects in collaboration with national departments to improve the increasing external procurement ratio [1] Group 2: Resource Management - There will be enhancements to the copper resource reserve system, which includes expanding the national copper strategic reserve scale and exploring a commercial reserve mechanism [1] Group 3: ETF Performance - The mining ETF (561330) tracks the non-ferrous mining index (931892), which selects securities from companies involved in the development of copper, aluminum, lead, zinc, and rare metals to reflect the overall performance of the non-ferrous metal mining sector [1] - According to Wind data, the mining ETF (561330) ranked third in annual growth among all market ETFs for 2025, and first among non-ferrous ETFs, characterized by a higher concentration of "gold + copper + rare earths" [1]