今日（10月15日）揽尽有色金属行业龙头的有色龙头ETF（159876）场内价格一度下挫2%，现回到水面以上，场内价格现涨0.45%，实时成交额超7900万元，交投活跃！ 深交所数据显示，有色龙头ETF（159876）近5日连续吸金，合计金额3.05亿元。反映资金看好板块后市，积极进场抢筹！ 成份股方面，中孚实业涨停，神火股份、盛和资源涨逾5%，紫金矿业、雅化集团、赤峰黄金等个股跟涨。 政策面上，工业和信息化部等八部门联合印发《有色金属行业稳增长工作方案（2025—2026年）》，行业正式进入"制度性支持+结构性景气"的新阶段。叠加美联储已于9月利率会议上正式开启 1、货币属性："美元锚"松动，重塑有色金属定价 不同的有色金属，景气度、节奏与驱动点并不一致，分化在所难免，如果看好有色金属板块，一个比较轻松的思路是通过全覆盖来更好地把握整个板块的贝塔行情。揽尽有色金属行业龙头的有色 风险提示：有色龙头ETF及其联接基金被动跟踪中证有色金属指数，该指数基日为2013.12.31，发布于2015.7.13，指数近5个完整年度的涨跌幅为：2020年，35.84%；2021年，35.89%； 责任编辑：杨赐 供给端，全 ...

北京时间10月15日凌晨，美联储主席鲍威尔暗示，美国的劳动力市场持续恶化，尽管政府关门影响了对 经济的判断，仍保留了本月降息的可能性。他还透露，美联储可能会在未来几个月内停止缩减资产负债 表（缩表）行动。 | | | 战略小金属股票市值排名 | | | | --- | --- | --- | --- | --- | | 代理 | 简称 | 年内涨幅 (%) | Ａ股市值 (亿元) | 一致预测今年 净利润增速(%) | | 603993 | 洛阳铝业 | 148.37 | 2795.48 | 22.74 | | 600111 | 北方稀土 | 168.00 | 2053.36 | 178.61 | | 603799 | 华友钻业 | 126.00 | 1227.85 | 35.21 | | 000831 | 中国稀土 | 118.86 | 651.48 | 224.49 | | 000426 | 兴业银锡 | 215.59 | 620.79 | 34.61 | | 600549 | 厦门钨业 | 72.98 | 504.56 | 18.62 | | 601958 | 金辑股份 | 54.04 | 484.64 ...

受两大稀土巨头宣布提价等利好消息刺激，10月13日午后，有色金属板块反转式强劲拉升，领跑市场， 获得超170亿元主力资金爆买。热门ETF方面，揽尽有色金属行业龙头的有色龙头ETF（159876）场内 价格一度涨逾4%，实时成交额超1.1亿元，交投火热。截至发稿，有色龙头ETF（159876）获资金实时 净申购2800万份。深交所数据显示，近3个交易日，有色龙头ETF（159876）吸金2.58亿元，最新基金 规模5.84亿元，再创历史新高，为同标的指数规模最大的ETF产品。 不同的有色金属，景气度、节奏与驱动点并不一致，分化在所难免，如果看好有色金属板块，一个比较 轻松的思路是通过全覆盖来更好地把握整个板块的贝塔行情。揽尽有色金属行业龙头的有色龙头ETF （159876）及其联接基金（017140）被动跟踪的中证有色金属指数，铜、黄金、铝、稀土、锂行业权重 占比分别为27.6%、14.5%、13.1%、10.4%、8.4%，相对于投资单一金属行业，能够起到分散风险的作 用。 中金公司指出，中国在稀土领域拥有领先地位，2024年开采份额占全球的61%，但更为重要的是90%以 上的精炼环节都集中在中国。 申万宏源 ...

10月10日，北方稀土、包钢股份两大稀土巨头宣布提价。此次上调后，2025年第四季度稀土精矿交易价 格相较于第三季度价格环比上涨约37%，创下自2023年第二季度以来的最高值。 中金公司指出，中国在稀土领域拥有领先地位，2024年开采份额占全球的61%，但更为重要的是90%以 上的精炼环节都集中在中国。稀土管制作为"先手"在4月就已经出现在"谈判桌"上，然而10月9日的一系 列举措更为严厉，不仅将在11月8日对超硬材料、部分稀土设备和原辅料、5种中重稀土、锂电池和人造 石墨负极材料实施出口管制，同时也将即日起对境外稀土出口和稀土技术实施管制。 新规要求跨国公司销售的商品中，如果含有中国稀土矿产占产品价值的0.1%或以上，则需要获得中国 政府的许可，这将使得跨国科技公司的关键产业链面临挑战。值得关注的是，商务部新闻发言人表示， 中国的出口管制不是禁止出口，只要是用于民用用途的、合规的出口申请，都可以获得批准，相关企业 无须担心。 东方财富指出，中国对稀土产业全方位管控后，全球稀土供给增长预期或下调，利好国内稀土产业高质 量发展。稀土永磁材料与人形机器人等产业密切相关，板块未来或受益于新兴产业的需求预期增长。 盘 ...

Market Overview - The A-share market experienced a collective pullback on October 10, following a strong opening on October 9, with the ChiNext and STAR Market showing larger declines [1] - High-dividend stocks, such as the S&P Dividend ETF (562060), rose by 1.2%, while sectors like batteries, semiconductors, and non-ferrous metals faced significant declines [1][2] - The agricultural sector showed resilience, with the first agricultural ETF (159275) reaching a peak increase of 1.5% before closing up 0.8% [1][5] Sector Performance - The technology sector faced a broad sell-off, particularly in AI-related stocks, with the Sci-Tech AI ETF (589520) dropping 4.75% [1][2] - Coal stocks strengthened due to seasonal demand for heating, with expectations of price increases if supply constraints are enforced [3] - The agricultural sector is seeing a potential turning point in the pig cycle, supported by recent policy signals aimed at reducing production capacity [7][10] Investment Insights - Analysts suggest focusing on AI infrastructure and applications as key investment opportunities, particularly in machinery and semiconductor equipment [4] - The agricultural sector is viewed as a favorable investment due to low valuations and supportive policy changes, with the agricultural ETF (159275) showing strong net subscriptions [8][11] - The internet sector in Hong Kong is experiencing volatility, with major stocks like Alibaba and Tencent facing declines, but long-term growth prospects remain positive [12][15] Fund Flows and ETF Performance - The internet ETF (513770) in Hong Kong saw a decline of 3.41%, but still attracted buying interest during dips, indicating investor confidence [12][15] - The non-ferrous metals ETF (159876) experienced a drop of 3.33% but received significant net subscriptions, highlighting ongoing investor interest in the sector [22][26] - Overall, the market is characterized by a high-low rotation, with strong performance in certain sectors like coal and agriculture amidst broader market corrections [3][5]

Core Viewpoint - The market is experiencing a consolidation phase, with the non-ferrous metal sector ETF (159876) seeing a price drop of 3.33% while achieving a record trading volume of 1.72 billion yuan, indicating strong investor interest despite the downturn [1] Fund Flows and Performance - The non-ferrous metal ETF (159876) saw a net subscription of 116 million units, with a total inflow of 117 million yuan on the previous day and a cumulative inflow of 210 million yuan over the past 20 days [1][3] - As of October 9, the latest scale of the non-ferrous metal ETF reached 493 million yuan, marking a new historical high [1] Sector Analysis - The "Copper Doctor" remains strong, with Jiangxi Copper rising over 7% and Yunnan Copper increasing by more than 1%. Silver stocks also performed well, with a limit-up increase [1] - Conversely, companies like Hanrui Cobalt and Western Gold fell over 9%, dragging down the index performance [1] Market Drivers - Gold prices have fluctuated due to a ceasefire agreement between Israel and Hamas, with Bank of America indicating a potential bull market for gold lasting until 2026, following a nearly 50% increase this year [3] - Copper prices surged due to supply constraints from the Grasberg copper mine incident, igniting investor enthusiasm [3] - The recent export control regulations on rare earths by the Ministry of Commerce are expected to maintain strong pricing in the rare earth sector [3][4] Industry Outlook - The non-ferrous metal industry maintains a high level of prosperity, with precious metals benefiting from Federal Reserve rate cuts and geopolitical tensions, leading to gold prices surpassing the 4000 USD mark [4] - Industrial metals like copper and aluminum are experiencing price increases due to supply constraints and a weak dollar environment [4] - The rare earth sector is expected to see continued valuation and performance growth due to tightening export controls [4] Investment Strategy - The non-ferrous metal ETF (159876) and its linked funds provide a diversified exposure to various metals, including copper (27.6%), gold (14.5%), aluminum (13.1%), rare earths (10.4%), and lithium (8.4%), making it suitable for risk diversification in investment portfolios [6]

Core Viewpoint - The market is currently consolidating, with the Nonferrous Metal Leader ETF (159876) experiencing a decline of 3.55%. However, there is significant buying interest as evidenced by a net subscription of 102 million units, indicating strong investor confidence in the sector [1][4]. Market Performance - The Nonferrous Metal Leader ETF (159876) has seen a total inflow of 2.1 billion yuan over the past 20 days, reaching a record high of 493 million yuan as of October 9 [1]. - The ETF has increased by 85.30% since its low point on April 8, outperforming major indices such as the Shanghai Composite Index (27.04%) and the CSI 300 (31.2%) [4][6]. Sector Analysis - The nonferrous metals sector is gaining traction among institutional investors, with a notable increase in weight for this sector in October's brokerage recommendations, rising by 2.71% compared to September [3]. - The expected net profit growth rate for the Nonferrous Metal Leader ETF's underlying index is projected at 63% for 2025, indicating strong future performance expectations [4]. Stock Performance - Key stocks within the ETF have shown significant gains, with notable performers including Luoyang Molybdenum (up 279%), Xinyi Silver (up 203%), and Ganfeng Lithium (up 197%) [6]. - The ETF's component stocks are primarily driven by high growth expectations in their respective sectors, particularly in rare earths and precious metals [4][9]. Macro Drivers - The nonferrous metals industry is benefiting from high demand and favorable macroeconomic conditions, including the impact of U.S. Federal Reserve interest rate cuts and geopolitical tensions that have driven gold prices above $4,000 [8][10]. - Supply constraints, particularly in copper and aluminum due to production halts in Indonesia, are contributing to a tight supply-demand balance, further supporting price increases [9][10]. Investment Strategy - The Nonferrous Metal Leader ETF (159876) offers a diversified exposure to various metals, including copper, gold, aluminum, and rare earths, making it suitable for investors looking to mitigate risks while capitalizing on sector growth [10].

Core Insights - The performance of the non-ferrous metal sector remains strong, with significant price movements in precious and industrial metals driven by various factors including geopolitical tensions and supply constraints [2] Group 1: Market Performance - As of October 10, the non-ferrous metal ETF showed stable performance with a 0.1% increase in price and a transaction volume of 8.7391 million yuan, bringing the fund's total size to 488 million yuan [1] - Silver has led the gains among constituent stocks with a 6.06% increase, followed by Lichung Group and Northern Rare Earth with increases of 3.64% and 2.96% respectively [1] - Conversely, Chifeng Gold and Western Gold experienced declines of 4.64% and 4.23%, while Huayou Cobalt fell by 3.26% [1] Group 2: Industry Developments - Zijin Mining International officially listed on the Hong Kong Stock Exchange on September 30, marking a significant step in Zijin Mining's global strategy [1] - The establishment of the international standard for "Mining Filling Pipeline Design and Operation" by China at the ISO/TC 82 annual meeting signifies an enhancement in China's international influence in mining technology [1] - An industry growth plan for non-ferrous metals was released on September 28, targeting an average annual growth of 5% in industry value added from 2025 to 2026 [1] Group 3: Price Trends and Projections - The non-ferrous metal industry is experiencing high levels of profitability, with both volume and price increasing across the mining and smelting sectors [2] - Precious metals are influenced by the Federal Reserve's interest rate cuts, geopolitical conflicts, and tariff policies, with international gold prices surpassing 4,000 USD [2] - The tightening of export controls on rare earths is expected to maintain strong pricing, with projections indicating that by 2025, the supply from secondary recycling will account for 27% of total supply [1][2]

不同的有色金属，景气度、节奏与驱动点并不一致，分化在所难免，如果看好有色金属板块，一个比较 轻松的思路是通过全覆盖来更好地把握整个板块的贝塔行情。揽尽有色金属行业龙头的有色龙头ETF （159876）及其联接基金（017140）被动跟踪的中证有色金属指数，铜、黄金、铝、稀土、锂行业权重 占比分别为27.6%、14.5%、13.1%、10.4%、8.4%，相对于投资单一金属行业，能够起到分散风险的作 用。 每日经济新闻 10月10日早盘，A股核心指数悉数回调，继昨日暴涨8%后，有色金属板块早盘一度回调超3%。截至发 稿，揽尽有色金属行业龙头的有色龙头ETF（159876）跌幅收窄至1.2%。与行情波动不同，资金持续入 场积极抢筹有色金属。10月9日，有色龙头ETF（159876）单日吸金1.17亿元，其最新基金规模升至4.93 亿元，再创历史新高。截至发稿，有色龙头ETF（159876）盘中再获资金实时净申购超6300万份。 中信建投建议关注有色板块投资机遇。该机构认为，黄金等贵金属在长假期间迎来大涨。国际金价大涨 的背后，主要是由美国政府停摆引发的短期波动、日本政治更迭带来的短期不确定性、美联储持续降息 预期 ...

01 10月9日，A股三大指数集体收涨。贵金属板块爆发，多只黄金股相关ETF大涨，有两只涨停，多只有色相关ETF涨幅超8%。 02 10月9日，ETF合计成交额为5811.19亿元，与9月30日相比，成交额增加近300亿元。4只ETF成交额突破200亿元。 03 上一交易日，股票型ETF中，A500相关ETF成"吸金"主力，电池、黄金相关ETF也获较多资金净流入。 黄金股、有色相关ETF大涨 国庆、中秋假期期间，国际金价屡创新高，受利好催化，今日黄金股相关ETF领涨市场。黄金股票ETF（159321）、黄金股ETF基 金（159315）涨停，涨幅前十的ETF中有6只黄金股相关ETF。 不少黄金股相关ETF今年以来涨幅已经翻倍。其中，黄金股ETF（159562）今年以来涨幅为103.43%；今年以来规模增长明显，最新 规模为24.09亿元，去年年底规模为3.22亿元。 有色金属品种表现活跃。涨幅前十的ETF中，3只为有色相关ETF，涨幅均超8%。 瑞银财富管理投资总监办公室（CIO）近日发布的观点显示，美国实际利率有望继续下行，这对黄金构成结构性支撑。中信建投证 券表示，从优化国际储备结构、推进人民币国际化及应 ...