Today (January 20), the Huabao Nonferrous Metals ETF (159876) opened actively, with its on-market price rising over 1% at one point before consolidating and pulling back with the broader market. The current on-market price is down 0.98%, potentially presenting a buying-on-dips opportunity for capital. As of this writing, the ETF has seen a net subscription of 26.4 million units, following a massive influx of 644 million yuan over the previous 10 consecutive days!
Regarding constituent stocks, Henan Mingtai Al.Industrial Co.,Ltd. hit the daily limit-up, while Nanshan Aluminum and Hunan Silver gained over 5%. Shenzhen Chengxin Lithium Group rose more than 3%, with stocks like Yunnan Tin, Xinjiang Joinworld, Sinomine Resource Group, and Tianqi Lithium also advancing.
For the limit-up stock, Henan Mingtai Al.Industrial Co.,Ltd. projected a net profit increase exceeding 12%, indicating initial success from its high-end strategy. On the evening of January 19, Mingtai Aluminum announced an estimated 2025 net profit attributable to shareholders of 1.95 billion to 2.0 billion yuan, a year-on-year increase of 12% to 14%. The company also forecasted a 2025 net profit excluding non-recurring items of 1.7 billion to 1.75 billion yuan, up 18% to 21% year-on-year. Mingtai attributed the anticipated profit growth to the significant low-carbon advantages of its recycled aluminum products.
Macroscopically, former President Trump announced a 10% tariff on goods exported to the US from countries including Denmark, Norway, and Sweden, effective February 1st this year, citing these nations' opposition to US control over Greenland. Concurrently, multiple EU countries are considering imposing tariffs on $93 billion worth of US goods.
BOC International believes that after gold prices surged 67% last year, they have climbed another 6% year-to-date, reaching record highs. They expect continued buying from central banks and insurance companies to drive prices even higher. Recent escalations in global geopolitical tensions and market expectations for further US interest rate cuts have enhanced gold's appeal as a safe-haven asset. BOC International currently forecasts an average 2026 gold price increase of 40% year-on-year, potentially rising further to $5,200 per ounce next year, with a long-term price prediction of $5,500 per ounce.
China Post Securities recommends firmly holding precious metals and buying copper, aluminum, and tin on dips. Long-term, they see the de-dollarization trend as irreversible, advising investors to hold precious metal positions steadfastly despite volatility. They anticipate a copper supply-demand tightness in 2026, where moderate price adjustments could help downstream industries gradually accept higher prices, making them optimistic about copper's upside potential. Given expected supply disruptions in 2026 and an explosion in energy storage demand, aluminum's importance is deemed unquestionable. Regarding tin supply, significant uncertainty remains due to conflicts in the Democratic Republic of Congo, Indonesian policies, and slower-than-expected production resumption in Myanmar. With AI capital expenditure expected to maintain high growth in 2026, the outlook for tin prices appears promising.
Notably, as of January 19, the Huabao Nonferrous Metals ETF (159876) reached a new record high with a latest size of 1.626 billion yuan. Among the three ETFs tracking the CSI Nonferrous Metals Index in the market, it is the largest by size.
[The Nonferrous Metals Trend is Here, an "Unstoppable Super Cycle"] The Huabao Nonferrous Metals ETF (159876) and its feeder funds (Class A: 017140, Class C: 017141) track a benchmark index that comprehensively covers sectors like copper, aluminum, gold, rare earths, and lithium, spanning different cycles including precious metals (safe-haven), strategic metals (growth), and industrial metals (recovery). This full-category coverage allows for better capture of the entire sector's beta movements.
Risk Warning: The Huabao Nonferrous Metals ETF and its feeder funds passively track the CSI Nonferrous Metals Index. The index's base date is December 31, 2013, and it was published on July 13, 2015. The index's performance over the last five complete years is: 2020, +35.84%; 2021, +35.89%; 2022, -19.22%; 2023, -10.43%; 2024, +2.96%. The index's constituent stocks are adjusted according to its compilation rules, and its past performance does not indicate future results. The mention of index constituents herein is for display only; individual stock descriptions are not investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the management company. The fund manager assesses this fund's risk level as R3-Medium Risk, suitable for investors with a Balanced (C3) or higher risk profile. Suitability matching opinions should be based on the sales institution. Any information appearing in this article is for reference only, and investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice to readers, and no liability is accepted for any direct or indirect losses resulting from the use of this content. Fund investment carries risks; past fund performance does not guarantee future results, and the performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. Invest cautiously.
A MACD golden cross signal has formed, and these stocks are performing well!
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