CNRE(SH:600111) Xin Lang Ji Jin·2026-02-11 11:44Core Viewpoint - The non-ferrous metal sector has seen a significant inflow of over 13.7 billion yuan in main funds, leading the 31 Shenwan first-level industries, with the non-ferrous ETF Huabao (159876) experiencing a peak increase of 3.35% and closing up 2.29% on February 11 [1][3]. Group 1: Market Activity - The non-ferrous metal sector attracted the highest capital inflow among all industries, with a total trading volume of 89.8 million yuan, marking an 80% increase compared to the previous period [1]. - Notable stocks in the small metal sector, such as Xiamen Tungsten, Jinchuan Group, and others, saw gains exceeding 7%, while companies like Tengyuan Cobalt and Huayou Cobalt increased by over 5% [1][3]. - Northern Rare Earth received a net inflow of 2.322 billion yuan, ranking first in A-share capital absorption [1]. Group 2: Price Trends and Insights - Prices of small metals, including rare earths, tungsten, molybdenum, tin, and antimony, have all risen, supported by tight supply and surging demand [3]. - The current geopolitical tensions have led to increased safe-haven demand for precious metals, with spot gold recovering to $5,050 per ounce [3]. - Analysts from CITIC Securities maintain an optimistic outlook on precious and non-ferrous metal prices, citing ongoing uncertainties from the Trump administration's policies and geopolitical factors [3]. Group 3: Future Outlook - China International Capital Corporation (CICC) suggests that the resource stock market is not over, with potential for a mid-term recovery following short-term adjustments [3]. - Huatai Securities emphasizes that the macro logic for non-ferrous metals remains intact, advocating for a strategic investment approach in the sector [3]. - The Huabao non-ferrous ETF and its linked funds cover a wide range of metals, providing an efficient tool for investors to gain exposure to the non-ferrous metal sector [3].