有色ETF基金紧密跟踪国证有色金属行业指数，国证有色金属行业指数参照国证行业分类标准，选取归 属于有色金属行业的规模和流动性突出的50只证券作为样本，反映了沪深北交易所有色金属行业上市公 司的整体收益表现，向市场提供细分行业的指数化投资标的。 数据显示，截至2025年10月31日，国证有色金属行业指数(399395)前十大权重股分别为紫金矿业 (601899)、洛阳钼业(603993)、北方稀土(600111)、华友钴业(603799)、中国铝业(601600)、赣锋锂业 (002460)、中金黄金(600489)、山东黄金(600547)、天齐锂业(002466)、云铝股份(000807)，前十大权重 股合计占比52.91%。 有色ETF基金(159880)，场外联接(A：021296；C：021297；I：022886) 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 截至2025年11月25日 10:41，国证有色金属行业指数(399395)强势上涨2.81%，成分股铂科新材(300811) 上涨11.34%，东阳光(600673)上涨6.14%，中金黄金(600489)上涨5. ...

Group 1 - The core viewpoint of the news highlights a strong performance in the non-ferrous metals industry, with the index rising by 1.51% and key stocks like Guocheng Mining and Yahua Group showing significant gains [1] - In October, the actual growth of the industrial added value of non-ferrous metals above designated size increased by 4.0% year-on-year, while the growth from January to October was 7.4%, which is 0.4 percentage points lower than the previous three quarters [1] - The demand in the energy storage market is robust, with leading domestic lithium battery companies placing large orders with upstream material suppliers, indicating a high growth trend in production for November [1] Group 2 - The non-ferrous metals ETF closely tracks the Guozheng Non-Ferrous Metals Industry Index, which selects 50 securities with significant size and liquidity in the non-ferrous metals sector, reflecting the overall performance of listed companies in this industry [2] - As of October 31, 2025, the top ten weighted stocks in the Guozheng Non-Ferrous Metals Industry Index accounted for 52.91% of the index, including companies like Zijin Mining and Ganfeng Lithium [2]

Core Viewpoint - The non-ferrous metal industry index in China has shown strong performance, with significant increases in key stocks and overall positive trends in metal prices, particularly in gold and lithium [1][2]. Group 1: Industry Performance - As of November 19, 2025, the China Nonferrous Metals Industry Index (399395) rose by 3.02%, with notable increases in stocks such as Zijin Mining (9.29%) and Chifeng Jilong Gold Mining (7.47%) [1]. - The non-ferrous ETF fund (159880) also increased by 3.08%, reaching a latest price of 1.78 yuan [1]. - Gold futures saw a sharp rise, with the main contract increasing over 1% to approach 940 yuan per gram [1]. Group 2: Market Insights - According to Zhongyou Securities, the aluminum market is nearing the end of its peak season, with supply-side factors supporting price stability. Long-term expectations suggest a potential rise in prices due to overseas power supply risks affecting electrolytic aluminum production [1]. - The supply shortage of tin remains a dominant theme, with expectations for tin prices to maintain high levels and limited pullbacks [1]. - The energy storage market continues to thrive, driving demand for lithium carbonate significantly [1]. Group 3: Index Composition - The China Nonferrous Metals Industry Index includes 50 securities that are prominent in terms of size and liquidity, reflecting the overall performance of listed companies in the non-ferrous metals sector [2]. - As of October 31, 2025, the top ten weighted stocks in the index accounted for 52.91% of the total index weight, including companies like Zijin Mining and China Aluminum [2].

截至2025年11月19日 10:51，国证有色金属行业指数(399395)强势上涨1.90%，成分股天齐锂业(002466) 上涨6.61%，赣锋锂业(002460)上涨6.01%，兴业银锡(000426)上涨3.99%，江特电机(002176)，紫金矿业 (601899)等个股跟涨。有色ETF基金(159880)上涨2.03%，最新价报1.76元。 消息面上，有色概念强势拉升，金铜锂锡全线走高。中泰证券指出，看好有色板块全面牛市行情。1、 工业金属：几个大矿接连出现意外扰动带来明年全球铜矿增量的显著下修，海外缺电预期下电解铝供应 扰动同样频发，需求端传统需求受益于全球大的降息周期有望复苏，新能源需求虽增速下滑但占比持续 上升，AI带来的电力需求同样有望提供增量，工业金属将迎来宏观+基本面共振的时刻，看好铜铝商品 价格持续上涨。股票维度虽股价基本都在新高位置，但更多因为商品价格的上涨以及公司成长性的兑 现，估值仍处于中性偏低水平。2、能源金属：随着储能需求预期的持续上调，明年碳酸锂供需格局从 原先的过剩预期大幅改善，行业见底预期下权益端表现值得期待；刚果金实施出口禁令后钴价大幅上 涨，且明年供应约束情况下供 ...

数据显示，截至2025年10月31日，国证有色金属行业指数(399395)前十大权重股分别为紫金矿业 (601899)、洛阳钼业(603993)、北方稀土(600111)、华友钴业(603799)、中国铝业(601600)、赣锋锂业 (002460)、中金黄金(600489)、山东黄金(600547)、天齐锂业(002466)、云铝股份(000807)，前十大权重 股合计占比52.91%。 有色ETF基金(159880)，场外联接(A：021296；接C：021297；I：022886)。 中邮证券指出，锡供给紧缺仍是主旋律，预计锡价将维持高位运行，回撤相对有限。一方面，全球供给 维持紧缺，1-10月国内精炼锡产量同比下滑2.6%，加工费维持1.2万元/吨，矿端持续偏紧，佤邦复产不 及预期，印尼锡出口同样因国内矿山整治有所下滑。需求端，AI、半导体需求持续景气，带动高端焊 锡需求增长，光伏、新能源汽车预计维持增长态势，需求总量是稳步增长的。总体看，长期供给不足叠 加短期事件扰动，锡价中枢将稳步抬升。储能市场持续景气，从未来空间来看，中国储能产业已确立3- 5年的持续成长周期。AI推动数据中心规模爆发式增长，A ...

截至2025年11月13日 11:13，国证有色金属行业指数(399395)强势上涨4.28%，成分股雅化集团(002497) 上涨10.01%，国城矿业(000688)上涨10.01%，中矿资源(002738)上涨10.00%，兴业银锡(000426)，天齐 锂业(002466)等个股跟涨。有色ETF基金(159880)上涨4.22%，最新价报1.83元。 数据显示，截至2025年10月31日，国证有色金属行业指数(399395)前十大权重股分别为紫金矿业 (601899)、洛阳钼业(603993)、北方稀土(600111)、华友钴业(603799)、中国铝业(601600)、赣锋锂业 (002460)、中金黄金(600489)、山东黄金(600547)、天齐锂业(002466)、云铝股份(000807)，前十大权重 股合计占比52.91%。 有色ETF基金(159880)，场外联接(A：021296；C：021297；I：022886)。 山西证券指出，六氟磷酸锂价格反弹，产业链盈利能力修复。需求端方面，下游新能源汽车与储能产业 需求爆发，带动电解液厂家六氟磷酸锂采购量显著增长。供给端方面，头部企业虽已满 ...

Core Insights - The non-ferrous metal sector is experiencing an upward trend, with the National Index for Non-Ferrous Metals (399395) rising by 0.64% as of November 5, 2025, driven by strong performances from key stocks such as Vanadium Titanium Co. (000629) and Tianqi Lithium (002466) [1] Group 1: Market Performance - The non-ferrous metal sector is buoyed by the lithium battery segment, which has seen significant price increases in lithium carbonate due to robust demand from the new energy vehicle and energy storage markets [1] - The ETF for non-ferrous metals (159880) has also increased by 0.65%, reflecting the overall positive sentiment in the sector [1] Group 2: Supply and Demand Dynamics - A potential supply disruption in copper is expected to elevate price levels, with projections indicating a tight supply-demand situation for copper in 2026 [1] - The aluminum market is nearing the end of its peak season, with supply-side factors providing rigid support for price levels [1] - Tungsten prices are on the rise, with expectations of recovering export demand [1] Group 3: Lithium Market Insights - Lithium carbonate prices have shown a slight increase this week, attributed to better-than-expected demand in the downstream sector [1] - October's lithium carbonate production continued to grow, with a month-on-month increase of 6% and a year-on-year surge of 55%, indicating strong production enthusiasm within the industry [1] - Despite uncertainties in mining policies in Jiangxi, strong demand is expected to provide robust support for lithium prices, with forecasts suggesting continued price increases in November [1] Group 4: Index Composition - The National Index for Non-Ferrous Metals (399395) includes 50 prominent securities from the non-ferrous metal sector, reflecting the overall performance of listed companies in this industry [2] - The top ten weighted stocks in the index account for 52.91% of the total index, highlighting the concentration of performance among leading companies such as Zijin Mining (601899) and Ganfeng Lithium (002460) [2]

Market Performance - The three major A-share indices collectively declined, with the Shanghai Composite Index down by 0.73%, the Shenzhen Component Index down by 1.16%, and the ChiNext Index down by 1.84% [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 24,643 billion yuan, an increase of 1,736 billion yuan compared to the previous day [1] - A total of 4,100 stocks in the market experienced a decline [1] Sector Performance - The sectors that saw the highest gains included energy metals, steel, quantum technology, batteries, wind power equipment, port shipping, and phosphorus chemicals [1] - Conversely, the sectors with the largest declines included CPO, PET copper foil, coal mining and processing, gaming, lithography machines, and securities [1] ETF Performance - Rare metals sector ETFs saw a significant rise in the afternoon, with Guangfa Fund's rare metals ETF, ICBC Credit Suisse Fund's rare metals ETF, and Huafu Fund's rare metals ETF all increasing by over 2% [1] - The energy sector also performed well, with the Huatai-PineBridge Fund's oil and gas resources ETF rising by 1.96% [1] - The non-ferrous metals sector rebounded, with Penghua Fund's non-ferrous ETF and Southern Fund's non-ferrous metals ETF both increasing by 1% [1] - The ChiNext 50 ETF from Fortune experienced a significant drop of 9.67% after a late-session surge the previous day [1] - The Hong Kong stock market's innovative drug sector saw increased declines in the afternoon, with the Hong Kong Stock Connect innovative drug ETF from Southern and the Hang Seng innovative drug ETF falling by 4.3% and 3.5%, respectively [1] - The CPO sector experienced a pullback, with the Southern ChiNext artificial intelligence ETF and the communication equipment ETF declining by 3.65% and 3.5%, respectively [1]

Group 1 - The core viewpoint indicates that non-ferrous metal concept stocks experienced a decline in the afternoon, with Huayou Cobalt falling over 4%, Northern Rare Earth down over 3%, and other companies like Zijin Mining, Luoyang Molybdenum, Zhongjin Gold, and Chifeng Jilong Gold dropping over 2% [1] - Mining and non-ferrous related ETFs also fell by more than 2% due to market influences [1] Group 2 - Specific ETFs reported declines, with Mining ETF at 1.687 (-2.60%), Industrial Non-ferrous ETF at 1.413 (-2.62%), Non-ferrous 60 ETF at 1.649 (-2.43%), and Non-ferrous Metal ETF Fund at 1.671 (-2.39%) [2] - A brokerage firm noted that the non-ferrous metal sector will face high market volatility risks in 2025, with uncertainties arising from demand and supply disturbances. However, emerging demand in the downstream structure of copper and aluminum is expected to support a long-term upward shift in non-ferrous metal prices [2]

Core Viewpoint - The non-ferrous metal industry index has shown strong performance, with significant gains in lithium-related stocks, driven by advancements in solid-state battery technology and expanding applications in various sectors [1][2]. Group 1: Industry Performance - As of October 23, 2025, the non-ferrous metal industry index (399395) increased by 1.23%, with notable stock performances from companies like Zhongfu Industrial (600595) up 5.82% and Ganfeng Lithium (002460) up 5.20% [1]. - The non-ferrous ETF fund (159880) rose by 1.13%, with the latest price at 1.71 yuan [1]. Group 2: Technological Advancements - At the 2025 New Energy Battery Industry Development Conference, Xinwanda introduced a new generation of polymer all-solid-state batteries with an energy density of 400 Wh/kg and a cycle life of 1200 weeks under ultra-low pressure [1]. - Xinwanda plans to establish a 0.2 GWh polymer solid-state battery pilot line by the end of this year and has successfully developed laboratory samples of lithium metal super batteries with an energy density of 520 Wh/kg [1]. Group 3: Market Trends - The application of lithium batteries is rapidly expanding into diverse fields such as electric two-wheelers, low-altitude economy, robotics, and RVs [2]. - In the first half of 2025, domestic sales of lithium batteries for electric two-wheelers surged by over 40% year-on-year, with industrial and consumer-grade drone batteries expected to grow at a CAGR of 18.08% from 2025 to 2030 [2]. - Global robot shipments are projected to increase by over 39% in 2024, while RV lithium battery sales are expected to grow at a CAGR of 8.55% from 2025 to 2031 [2]. Group 4: Index Composition - As of September 30, 2025, the top ten weighted stocks in the non-ferrous metal industry index include Zijin Mining (601899), Northern Rare Earth (600111), and Ganfeng Lithium (002460), collectively accounting for 53.12% of the index [3].