Today (January 6th), the nonferrous metals sector led the gains in the market. Zijin Mining Group saw its total market capitalization exceed the 1 trillion yuan mark for the first time during the session, China Molybdenum Co., Ltd. hit a record high, Aluminum Corporation of China Limited reached another 15-year high, and Yunnan Tin Co., Ltd., Sichuan Anning Iron And Titanium Co.,Ltd., and Pangang Group Vanadium & Titanium Resources Co.,Ltd. all surged by the 10% daily limit.
The popular ETF for the nonferrous metals sector—Huabao Nonferrous Metals ETF (159876)—saw its intraday gains peak at 4.4%, ultimately closing up 4.21%, securing its fourth consecutive positive trading day! The fund recorded a full-day turnover of 72.79 million yuan, a sharp increase of 47% compared to the previous session.
The ETF's breakthrough on heavy volume above its previous listing high could signal a buying opportunity for investors! Huabao Nonferrous Metals ETF (159876) received a net subscription of 39 million units throughout the day, following four consecutive days of net capital inflows totaling 56.48 million yuan, indicating that capital is actively entering the market to accumulate shares amidst the fervent market activity!
Regarding the stocks that hit the limit-up, joint price hike letters from the titanium dioxide industry ignited market enthusiasm, driving Sichuan Anning Iron And Titanium Co.,Ltd. and Pangang Group Vanadium & Titanium Resources Co.,Ltd. to their 10% daily limit. The titanium dioxide industry collectively issued price increase letters to support prices, attempting to reverse the previous situation of low prices and thin profit margins within the sector. Everbright Securities believes that for the titanium dioxide sector, given the current low price and low profitability environment, the industry's joint action to support prices suggests a window for profit recovery may have arrived.*
Fundamentally, as of January 5th, among the 60 leading listed companies in the nonferrous metals industry covered by the Huabao Nonferrous Metals ETF (159876), four companies—Chifeng Jilong Gold Mining Co., Ltd., Zijin Mining Group Co., Ltd., Huayou Cobalt Co., Ltd., and Lizhong Group Co., Ltd.—have disclosed their 2025 performance forecasts, all projecting double-digit year-on-year growth in net profit, indicating strong earnings performance. Notably, heavyweight constituent Zijin Mining Group expects to achieve a net profit attributable to shareholders of 51 billion to 52 billion yuan for the full year 2025, representing a year-on-year increase of 59% to 62%.
(Sources: Listed company announcements, data as of January 5, 2026) Changjiang Securities believes that, looking ahead to the first quarter of 2026, the window for the combined effect of price increases and liquidity remains unchanged; the upward trend in precious metals is expected to continue, and it may be opportune to increase allocations on any adjustments in the equity market. For industrial metals, the expectation of interest rate cuts and US copper stockpiling are creating a combined effect; the spring rally for copper and aluminum might occur earlier than usual. Commodities show short-term strength, and with a medium- to long-term view of an economic bottom and optimized supply-demand structures, the potential for price elasticity in copper and aluminum commodities is promising. From a cyclical perspective, the low valuations of the copper and aluminum sectors, coinciding with the year-end/beginning period, increase the likelihood of increased allocation by insurance funds, making a spring rally for the sector highly anticipated and potentially arriving ahead of schedule.*
[The Nonferrous Metals Trend Has Arrived, The "Super Cycle" is Unstoppable] Huabao Nonferrous Metals ETF (159876) and its linked fund (Class A: 017140, Class C: 017141) track an index that comprehensively covers industries such as copper, aluminum, gold, rare earths, and lithium, encompassing different phases of the economic cycle including precious metals (safe-haven), strategic metals (growth), and industrial metals (recovery). This full-category coverage allows for better capture of the beta opportunities across the entire sector.
*Institutional views referenced from: ① Everbright Securities research report dated January 5, 2026, "Steel/Nonferrous Metals Industry High-Frequency Data Weekly Report"; ② Changjiang Securities research report dated January 4, 2026, "Metals, Non-Metallic Minerals & Mining Industry Weekly: Continue Positioning for the Spring Rally, Monitor Precious Metals Amid Geopolitical Fluctuations". Risk Warning: The Nonfermetals Leaders ETF and its linked fund passively track the CSI Nonferrous Metals Index. The base date for this index is December 31, 2013, and it was published on July 13, 2015. The index's performance over the past five complete years is as follows: 2020, +35.84%; 2021, +35.89%; 2022, -19.22%; 2023, -10.43%; 2024, +2.96%. The index constituents are adjusted according to its compilation rules, and its past performance does not indicate future returns. The mention of individual index constituents in this article is for illustrative purposes only and does not constitute investment advice in any form, nor does it represent the holdings or trading动向 of any fund managed by the management company. The fund manager assesses the risk rating of this fund as R3-Medium Risk, suitable for investors with a Balanced (C3) or higher risk profile. Suitability matching opinions should be based on the selling institution's assessment. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors are solely responsible for any independent investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute investment advice of any kind to the reader, and no responsibility is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks. The past performance of a fund does not indicate its future returns. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Invest carefully in funds.
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