宏观利好释出+供给扰动增加，有色矿业迎大涨，矿业ETF（561330）大涨超3.5%

Core Viewpoint - The release of macroeconomic benefits and increased supply disruptions have led to a significant rise in the non-ferrous mining sector, with the mining ETF (561330) surging over 3.5% [1] Group 1: Market Dynamics - The market has largely absorbed the liquidity shock from Trump's nomination of Waller as the next Federal Reserve Chairman, allowing metal pricing to return to fundamentals [1] - Despite a recent accumulation of copper and aluminum inventories, the pace of accumulation has slowed, and the negative feedback from downstream processing has diminished, indicating a decent operating rate during the off-season [1] - As prices adjust in the short term, downstream acceptance has noticeably improved, suggesting a potential for continued performance in commodities with improved supply-demand dynamics [1] Group 2: ETF Performance - The mining ETF (561330) tracks the non-ferrous mining index (931892), which includes securities from companies involved in the development of copper, aluminum, lead, zinc, and rare metals, reflecting the overall performance of the non-ferrous metal mining industry [1] - According to Wind data, the mining ETF (561330) is projected to have a year-on-year increase of 106.11% in 2025, ranking first among ten ETFs in the non-ferrous sector [2] - The ETF exhibits a concentrated leadership with a higher proportion of "gold, copper, and rare earths," indicating a strong focus on these key commodities [1]