BAOWU MAGNESIUM(SZ:002182) Sou Hu Cai Jing·2026-02-27 03:50Core Viewpoint - The non-ferrous metal sector continues to show strong performance, with significant gains in key stocks and an increase in investment interest, driven by market dynamics and strategic pricing policies from the U.S. government [1][3][5]. Group 1: Market Performance - On February 27, the non-ferrous metal ETF (159876) saw a strong price increase of 2.16%, with a net subscription of 4.8 million units [1]. - Leading small metal stocks experienced notable gains, including Baowu Magnesium Industry reaching the daily limit, Yunnan Zinc Industry rising over 7%, and Xiamen Tungsten Industry increasing by more than 6% [3]. - The performance of key stocks is highlighted in a table, showing significant price increases, with the top performer being Er Yuan Mei V at 9.99% [4]. Group 2: Strategic Developments - The U.S. government plans to utilize an AI model developed by the Department of Defense to set reference prices for critical minerals, including germanium, gallium, antimony, and tungsten, which is expected to enhance market expectations regarding the scarcity and pricing power of these strategic metals [4]. - The tightening supply of tungsten raw materials has led to frequent historical price highs, with black tungsten concentrate experiencing a 66.37% increase since 2026 [4]. Group 3: Industry Insights - Key minerals have become a focal point for many countries due to concerns over supply chain security, leading to a perception that their resource attributes will become more pronounced, making prices easier to rise than fall [5]. - The strategic value of minerals supporting manufacturing upgrades is increasingly recognized, with expectations of structural and cyclical demand for gold being supported by liquidity conditions [5]. - The non-ferrous ETF covers a wide range of sectors, including copper, aluminum, gold, rare earths, and lithium, providing a comprehensive tool for investors to engage with the non-ferrous metal market [6].