印尼下调30%镍矿生产配额！有色金属ETF天弘（159157）标的指数涨近2%，规模再创上市以来新高

Group 1 - The core viewpoint of the news highlights the recent performance of the non-ferrous metal sector, particularly the significant inflow of funds into the Tianhong Non-Ferrous Metal ETF, which has reached a new high in scale and is closely tracking the Zhongzheng Industrial Non-Ferrous Metal Theme Index [1] - The Tianhong Non-Ferrous Metal ETF has seen a net inflow of 779 million yuan over the last five trading days, with its latest scale reaching 1.873 billion yuan, marking a record high since its listing [1] - The ETF's top three industries, copper (34.43%), aluminum (21.82%), and rare earths (13.60%), account for nearly 70% of its holdings, with a notable emphasis on rare earths as a strategic resource amid ongoing US-China trade negotiations [1] Group 2 - Indonesia's Ministry of Energy and Mineral Resources has officially announced a significant reduction in nickel ore production quotas for 2026, lowering the target range to 260-270 million tons, a decrease of approximately 30% from the 2025 target of 379 million tons [2] - The approved production quota for the Weda Bay Nickel mine has also been drastically cut from 42 million tons in 2025 to 12 million tons, indicating a shift in global nickel supply dynamics [2] - Tianfeng Securities notes that the recent stabilization and recovery of non-ferrous metal prices, combined with historical high production levels and increased fixed asset investment in the mining sector, suggest a continuous improvement in the industry's fundamentals and strong demand momentum [2]