Group 1 - The macro sentiment provides strong support for copper prices, with frequent supply disruptions and the arrival of peak demand season, indicating prices are likely to remain strong [1] - The SMM imported copper concentrate index has decreased month-on-month, while Codelco plans to raise copper premiums in the European market to a historical high, further supporting copper prices [1] - In the aluminum sector, the peak season in October continues, with increased orders for automotive parts driven by year-end demand from car manufacturers, leading to a significant rise in operating rates and a reduction in social inventory of aluminum ingots [1] Group 2 - The demand for lithium remains strong, with carbonate lithium prices running high, while cobalt prices are rising due to marginal pricing influences and supply concerns from the Democratic Republic of Congo [1] - Indonesia's RKAB policy is expected to increase nickel supply disruptions, but nickel salt prices still have room for growth [1] - Overall, industrial and energy metals are performing strongly due to tightening supply and demand dynamics, along with policy disruptions [1] Group 3 - The mining ETF (561330) tracks the non-ferrous mining index (931892), which selects securities from companies involved in the development of copper, aluminum, lead, zinc, and rare metals to reflect the overall performance of the non-ferrous metal mining industry [1] - The mining ETF (561330) has an excess return of over 10% compared to the Zhongzheng non-ferrous index, featuring a more concentrated selection of leading companies with a higher proportion of "gold + copper + rare earth" [1]