Market Overview - A-shares opened lower on February 11, with mixed performance across major indices. The Shanghai Composite Index closed at 4137.55 points, up 0.22%, while the Shenzhen Component Index fell 0.07%, and the ChiNext Index dropped 0.91% [2][3]. Sector Performance - The non-ferrous metals sector showed a significant rebound, particularly in tungsten-related stocks, with companies like Xianglu Tungsten and others hitting the daily limit [5][6]. - The chemical sector also performed strongly, with multiple stocks reaching their daily limit, driven by price increases in various chemical products [9][11]. Individual Stock Highlights - Notable performers in the non-ferrous metals sector included: - Luoyang Molybdenum, up over 4% - Xianglu Tungsten, Zhangyuan Tungsten, and others hitting the daily limit - Prices for tungsten concentrate have risen, with 65% black tungsten quoted at 697,000 CNY/ton, up 7,000 CNY from the previous day [6][8]. - In the chemical sector, stocks like Sanfangxiang, Xinjinlu, and Jinniu Chemical all reached their daily limit, with Wanhuah Chemical rising over 4% [11][12]. Market Trends - The demand for tungsten and other minor metals is increasing due to rapid growth in high-demand sectors like new energy and photovoltaics, leading to a favorable market environment for these materials [8]. - A recent UBS report has raised expectations for the Chinese chemical industry, predicting a new upward cycle from 2026 to 2028, driven by multiple positive factors [12]. Media and Entertainment Sector - The media and entertainment sector experienced a significant pullback, with several stocks, including Huayi Brothers and Wanda Film, seeing declines of over 10% [19][20]. - The recent surge in film ticket sales during the Spring Festival has not sustained, leading to a sharp correction in stock prices [20].

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index closing at 4137.55 points, up 0.22%, while the Shenzhen Component Index fell by 0.07% and the ChiNext Index dropped by 0.91% [2][3] - A total of 2728 stocks rose, with 53 hitting the daily limit, while 2475 stocks declined. The trading volume for the day was 1.3 trillion yuan, a decrease of 949 billion yuan from the previous trading day [3] Sector Performance - The non-ferrous metals sector rebounded significantly, with tungsten-related stocks experiencing a surge, including companies like Xianglu Tungsten Industry and Zhongtung High-tech [4][5] - The chemical sector also showed strength, driven by price increases, with a report from UBS predicting a new upward cycle for the Chinese chemical industry from 2026 to 2028 [9] Individual Stock Highlights - Baichuan Co. saw its stock price rise sharply, achieving 8 consecutive limit-ups over 11 days, attributed to advancements in its new materials business and rising product prices. The company reported a projected 165% year-on-year increase in negative electrode material shipments by 2025 [9][10] - In the tungsten market, prices have been on the rise, with 65% black tungsten concentrate quoted at 697,000 yuan per ton, an increase of 7,000 yuan from the previous day [7] Media and Entertainment Sector - The media and entertainment sector faced a significant downturn, with major stocks like Huayi Brothers and Wanda Film dropping over 10%. This decline follows a previous surge driven by expectations of increased box office revenues during the Spring Festival [10][11][12]

有数据显示，2020–2022年锂电产业链涨价周期中，上游碳酸锂价格从4万元/吨底部启动，两年内最高 冲至60万元/吨，涨幅达14倍；当前时点产业扩产意愿显著低于2021年，2026年新增供给有限，而储能 等新兴需求持续超预期，稀有金属中具备类似资源刚性与下游高成长性的品种，价格弹性与盈利修复空 间值得重视。 此外，钴作为新能源与高温合金核心稀有金属，其供给格局正经历政策驱动型重塑。华西证券援引嘉能 可季报指出，刚果（金）已于2025年四季度解除钴出口禁令，转而实施配额管理制度，并允许未使用配 额延至2026年3月31日；嘉能可明确将优先保障铜出口，钴则按分配额度有序释放，超出配额部分以在 制品或成品形式在国内库存累积，该策略既响应监管要求，又为后续价格弹性预留空间。 稀有金属ETF基金（561800）跟踪的CS稀金属指数，该指数主要配置碳酸锂+小金属+稀土板块，碳酸 锂含量在30%~40%，是市面上含"锂"量最高的指数，为场内投资者提供一键布局稀有金属行业的优秀 投资工具。 场内ETF方面，截至2026年2月11日午间收盘，中证稀有金属主题指数(930632)强势上涨4.13%，成分股 东方钽业、章源钨业1 ...

A股三大指数早盘走势分化，有色金属概念股走强，稀土板块表现亮眼。北矿科技、格林美涨停，厦门 钨业涨超7%，北方稀土涨超5%。 有分析认为，国内稀土价格未来上涨预期持续攀升，当前氧化镨钕价格突破70万元/吨关口，2026一季 度稀土产业有望保持业绩高增。长期看，稀土行业供需关系持续改善，供给方面，开采与冶炼分离实行 总量调控，国内指标增速放缓，供给增长滞后于需求扩张；需求方面，机器人、低空经济、军工等产业 快速发展拉动需求释放。此外，海外冶炼成本高企等因素也对价格形成支撑，稀土战略价值有望迎来重 估。 资料显示，稀土ETF（159713）跟踪中证稀土产业指数，该指数选取涉及稀土开采、稀土加工、稀土贸 易和稀土应用等业务相关上市公司证券作为样本，以反映稀土产业上市公司证券的整体表现。 （文章来源：每日经济新闻） 受盘面影响，稀土ETF（159713）涨超3%。 消息面上，美国计划启动关键矿产储备项目"金库计划"，强化了稀土作为"战略金属"的长期溢价逻辑。 ...

| 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 600980 | 北矿科技 | | 9.98 | 50.04亿 | 15.06 | | 002340 | 格林美 | | 9.95 | 485亿 | 13.64 | | 600111 | 北方稀土 | 长 | 6.68 | 2068亿 | 24.02 | | 300127 | 银河磁体 | | 6.12 | 123亿 | 25.12 | | 920505 | 九菱科技 | | 5.69 | 33.75亿 | 19.94 | | 688456 | 有研粉材 | 1 | 5.47 | 68.50亿 | -14.95 | | 002497 | 雅化集团 | | 5.47 | 307亿 | 7.52 | | 600549 | 厦门铝业 | 1 | 5.41 | 966亿 | 48.12 | | 300748 | 金力永磁 | 兼 | 4.85 | 529亿 | 12.78 | | 920807 | 奔朗新材 | - | 3.96 | 28.66亿 | 8.24 | ...

Group 1 - The non-ferrous metal sector is leading the market, with companies like Zhongtung High-tech, Xiamen Tungsten, and Northern Rare Earth seeing significant stock price increases of 7.98%, 6.72%, and 6.34% respectively, contributing to a nearly 3% rise in the Tianhong Non-ferrous Metal ETF (159157) [1] - The Tianhong Non-ferrous Metal ETF has attracted substantial capital inflow, with a total of 890 million shares purchased in a single day and a cumulative net inflow of 614 million yuan over three days, indicating strong investor interest [1] - The ETF covers a wide range of sectors including copper, aluminum, gold, and rare earths, allowing it to capture various market cycles effectively [1] Group 2 - On February 10, prices for mainstream rare earth products such as praseodymium and neodymium oxides have risen due to tight supply conditions and strong demand from downstream buyers [2] - The non-ferrous sector is expected to perform well in 2025, with companies like Zijin Mining and Luoyang Molybdenum projected to see net profit increases of over 60% and 50% respectively, while Shenghe Resources and Huayu Mining are expected to see even higher profit growth [2] - Following price adjustments by tungsten companies, Zhangyuan Tungsten has also raised its long-term procurement prices for black and white tungsten concentrates by 28.1% [2] - The U.S. has initiated a $12 billion strategic metal reserve plan, and the Non-ferrous Metals Industry Association has suggested commercial interest subsidies for copper and copper concentrates to enhance resource value [2]

Group 1 - The core viewpoint is that the non-ferrous metals sector is experiencing short-term pressure due to pre-holiday sentiment, but there are structural opportunities in specific sub-sectors [2] - The global non-ferrous metals industry is expected to enter a "recovery cycle with supply constraints" from 2026 to 2027, with copper and aluminum prices shifting from supply constraints and loose liquidity in 2026 to demand recovery in 2027 [2] - The supply growth of electrolytic aluminum is projected to be only 1.7% in 2026, with a supply gap of over 800,000 tons; electrolytic copper supply growth is 2.4% while demand growth is 3.3%, indicating a shift from surplus to shortage [2] Group 2 - Tungsten is expected to see a continued supply-demand shortage due to China's mining control policies, leading to sustained price increases from 2026 to 2027 [3] - Rare earth permanent magnets are experiencing tightening supply-side integration, with improving demand expectations for exports, indicating a fundamental improvement [3] - Cobalt is projected to face a global shortage due to supply reduction policies in the Democratic Republic of Congo, with strong upward momentum in the short term [3] Group 3 - Lithium is benefiting from the rising demand for energy storage batteries and domestic supply disruptions, potentially at the bottom of its cycle [3] - Nickel is expected to clear supply issues from the second half of 2026 to 2027 due to Indonesia's quota policies, with prices likely to rise if economic recovery boosts stainless steel demand [3] - Magnesium is gaining traction in the lightweighting sector of new energy vehicles due to its higher cost-effectiveness compared to aluminum, indicating improved industry sentiment [3] Group 4 - The non-ferrous metals ETF (512400) closely tracks the CSI Shenyin Wanguo Non-Ferrous Metals Index, which selects 50 listed companies to reflect the overall performance of the non-ferrous metals sector in the Shanghai and Shenzhen markets [3] - The top ten weighted stocks in the index include Zijin Mining, Luoyang Molybdenum, Northern Rare Earth, China Aluminum, and Huayou Cobalt, among others [3]

截至2026年2月11日 10:58，大宗商品ETF(510170)上涨2.49%，冲击四连涨+四连阳！盘中换手2.63%， 成交1573.30万元。成分股中国巨石上涨9.99%，恒力石化上涨6.65%，厦门钨业上涨6.57%，北方稀土， 华友钴业等个股跟涨。 华源证券指出，库存累积，铜价短期或迎来降波震荡。日前中国有色金属工业协会表示研究将铜精矿纳 入国家储备，这或将利好铜中长期价格。中长期看，铜矿资本开支不足，供给端扰动频发，铜矿供需格 局或将由紧平衡转向短缺，同时铜冶炼在"反内卷"背景下利润周期有望见底，叠加美联储进入降息周 期，铜价有望突破上行。 大宗商品ETF(510170)，场外联接(A类：257060；C类：015577)。 风险提示：以上所有信息仅作为参考，不构成投资建议，一切投资操作信息不能作为投资依据。投资有 风险，入市需谨慎。 大宗商品ETF(510170)具备行业均衡配置优势，前五大行业分别为有色金属、煤炭、基础化工、石油石 化、钢铁，实现对大宗商品核心产业链的全面覆盖，能有效捕捉大宗商品轮涨机会，风险分散能力突 出，成长空间可期。值得一提的是，上证大宗商品股票指数50只成分股全部来自 ...

Group 1 - The core viewpoint of the articles highlights the significant fluctuations in gold prices driven by market concerns over the Federal Reserve's independence and geopolitical uncertainties, particularly regarding Iran [1][2] - The Taikang ETF (159163) tracking the CSI Nonferrous Metals Mining Theme Index (931892) has shown strong performance, with a 3.08% increase in the index and notable gains in constituent stocks such as Tungsten High-Tech (up 8.17%) and Xiamen Tungsten (up 6.59%) [1] - Citic Securities maintains an optimistic outlook for precious and nonferrous metal prices for the year 2026, despite recent volatility in gold prices [1] Group 2 - Dongwu Securities notes that the current market is characterized by a "Wash trade" environment, leading to low volatility in precious metals, with gold prices exhibiting high volatility [2] - The CSI Nonferrous Metals Mining Theme Index comprises 40 listed companies with nonferrous metal mineral resources, reflecting the overall performance of the sector [2] - As of January 30, 2026, the top ten weighted stocks in the CSI Nonferrous Metals Mining Theme Index account for 53.28% of the index, including companies like Zijin Mining and China Aluminum [2]

【主力资金监控：北方稀土净买入超13亿】智通财经2月11日电，智通财经星矿数据显示，今日早盘主 力资金净流入有色金属、基础化工、建筑材料等板块，净流出文化传媒、电子、通信等板块，其中文化 传媒板块净流出超80亿元。个股方面，北方稀土大涨，主力资金净买入超13.33亿元位居首位，网宿科 技、格林美、再升科技获主力资金净流入居前；中际旭创遭净卖出超25亿元，新易盛、蓝色光标、捷成 股份资金净流出额居前。 转自：智通财经 ...