HALO交易爆火！有色金属“杀”回来了

Group 1 - The core viewpoint of the article highlights a significant resurgence in the non-ferrous metals sector, particularly in small metals, precious metals, rare earths, lead, zinc, copper, and cobalt, amidst a weak A-share market [1][2]. - Multiple stocks in the sector have reached historical highs, with notable performances including Zhangyuan Tungsten, which achieved five consecutive trading limits in seven days, and Hunan Gold, which rose over 9% [3][4]. Group 2 - The price of tungsten has surged dramatically, with tungsten powder exceeding 1800 yuan/kg, marking a 469.6% increase compared to last year and a 66.7% rise since the beginning of this year [8]. - The price of ammonium paratungstate (APT) has reached a historic high of 1.1 million yuan/ton, reflecting an increase of over 400% since last year [9]. - The demand for strategic metals is being driven by the AI industry, which is contributing to price increases in key upstream metals [5][10]. Group 3 - The recent price increases in rare earth products, including praseodymium and neodymium oxides, have accelerated the prosperity of the rare earth sector [6]. - Market analysts suggest that the combination of U.S. AI pricing policies, tight raw material supplies, and continuous capital inflows are driving the sustained rise in the small metals sector [10]. - The investment strategy recommended by Zhongyin Securities emphasizes focusing on industrial metals and strategic small metals as a spear, while using precious metals as a shield [11].