Core Insights - The article discusses the impact of macroeconomic factors on various commodities, highlighting the strategic importance of metals like gold, rare earths, tungsten, and tin in the context of global geopolitical tensions and monetary policy shifts [3]. Group 1: Macroeconomic Drivers - The article emphasizes that the Federal Reserve's interest rate cuts are leading to increased monetary competition among countries, which is expected to influence commodity prices [3]. - Geopolitical disturbances are driving demand for safe-haven assets, particularly gold, as countries navigate through global uncertainties [3]. Group 2: Supply and Demand Dynamics - The supply-demand landscape for industrial metals such as copper and aluminum is evolving, with emerging industries expected to release significant demand for lithium, diamonds, and nickel [3]. - There is a collective expectation among global nations for policy support to stabilize and enhance the supply-demand balance in the commodities market [3].

Core Viewpoint - The article discusses the recent split of the "有色龙头 ETF" (Color Metal Leader ETF) and its implications for investors, highlighting the ETF's strong performance and the favorable market conditions for the metals sector. Group 1: ETF Split Details - The "有色龙头 ETF" will undergo a split on August 1, 2025, at a ratio of 1:2, meaning each fund share will be divided into two shares [7] - The split aims to lower the net asset value and trading threshold, reducing the trading price from over 130 yuan to around 60 yuan [8] - The total assets of the fund will remain unchanged, and the investment targets will not be affected for existing shareholders [9] Group 2: Performance and Market Context - The "有色龙头 ETF" has outperformed the market, with a cumulative net asset value of 1.2683 yuan as of August 1, 2025, and a year-to-date increase of over 22% [9] - The 中证有色金属指数 (CSI Nonferrous Metals Index) has also seen a significant rise of 22.68% from January 1, 2025, to July 31, 2025, outperforming major indices like the沪深300 [10][9] - The metals sector has been the top-performing industry in the market, with a year-to-date increase of 24.91% [12] Group 3: Market Drivers - The strong performance of the metals sector is supported by government policies aimed at stabilizing growth in key industries, including nonferrous metals [12] - Over 80% of companies in the sector are expected to report profit growth, with nearly 40% forecasting a doubling of net profit [12] - The sector benefits from a favorable supply-demand balance, with limited supply growth and increasing demand from emerging industries [14]