矿业ETF（561330）大涨超3.6%，工业金属显支撑

Group 1 - The core viewpoint is that the recent tariff ruling does not affect steel and aluminum tariffs, and future tariffs on key metals like copper may be based on Section 232 rather than IEEPA, indicating limited immediate impact on industrial products [1] - The US manufacturing PMI for January rebounded significantly to 52.6, enhancing expectations for demand support [1] - In China, the inventory accumulation of copper and aluminum slowed down in the week before the Spring Festival, with processing enterprises showing decent operating rates during the off-season and strong downstream purchasing activity following price declines [1] Group 2 - The mining ETF (561330) tracks the non-ferrous mining index (931892), which selects securities related to the development of copper, aluminum, lead, zinc, and rare metals to reflect the overall performance of the non-ferrous metal mining industry [1] - According to Wind data, the mining ETF (561330) is projected to have the third-highest annual growth among all market ETFs in 2025, and the highest among non-ferrous ETFs, with a higher concentration of gold, copper, and rare earths [1]