Nonferrous metals led gains in the stock market today. The Nonferrous Metals ETF Huabao (159876), which aggregates leading companies in the sector, surged with a gap up, soaring 4.85% during the session and reclaiming its 5-day and 20-day moving averages.
Among its constituents, Western Gold and Xingye Silver & Tin hit the daily limit up, while Huaxi Nonferrous Metals and Shanjin International rose over 9%. China Molybdenum, Western Mining, Zijin Mining Group, and Hunan Silver advanced more than 7%. Hunan Gold and China Rare Earths also posted gains.
Market sentiment was lifted by news that U.S. President Trump agreed to suspend airstrikes and attacks on Iran for two weeks. Iran accepted a ceasefire proposal from Pakistan. Global equity markets rallied, and spot gold broke above $4,800 per ounce. Analysts suggested identifying high-quality assets that may have been oversold due to emotional reactions amid the conflict.
In addition, the People's Bank of China has been increasing its gold reserves for 17 consecutive months. As of the end of March, China's gold reserves stood at 74.38 million ounces. The long-term trend of central bank gold purchases remains intact, supporting the medium-term upward trajectory of gold prices. Looking ahead to the second quarter, Nanhua Futures analyzed that developments in the Middle East, Federal Reserve policy, and supply-demand fundamentals will jointly influence precious metals.
Huatai Securities is optimistic about the rebound potential in the nonferrous metals sector. Historically, gold prices tend to rebound quickly after geopolitical tensions ease, and continued central bank buying provides a floor for prices. For industrial metals, tight copper mine supply and declining domestic inventories, along with unpriced risks to aluminum capacity in the Middle East, maintain fundamental support. Among minor metals, rare earths, tungsten, molybdenum, and cobalt are being driven by geopolitical factors, with expectations strengthening for strategic reserves and military restocking. Their supply concentration in China and resilience to external shocks enhance their anti-fall characteristics and medium-term allocation value, making post-correction recovery opportunities worth attention.
The Nonferrous Metals ETF Huabao (159876) and its feeder funds (Class A: 017140, Class C: 017141) track an index that comprehensively covers copper, aluminum, gold, rare earths, lithium, and other subsectors. It spans different cycles—precious metals (safe-haven), strategic metals (growth), and industrial metals (recovery)—enabling investors to capture broad sector beta. The ETF is also a margin trading target, offering an efficient tool for gaining exposure to the nonferrous metals sector.
As of the end of March, the Nonferrous Metals ETF Huabao (159876) had a net asset value of 1.891 billion yuan, with average daily turnover exceeding 100 million yuan over the past month. Among the three ETFs tracking the same index, it leads in both size and liquidity.
Note: The fund was previously known as the Nonferrous Metals Leaders ETF.
Investors should be aware that the Nonferrous Metals ETF Huabao passively tracks the CSI Nonferrous Metals Index, which has a base date of December 31, 2013, and was launched on July 13, 2015. The index composition may change according to its rules, and past performance does not indicate future results. Constituent stocks are shown for illustrative purposes only and do not constitute investment advice or reflect the fund manager’s holdings or trading activities. The fund manager rates this product as R3-medium risk, suitable for balanced (C3) or higher risk-profile investors. Suitability assessments should be confirmed with sales institutions. All information provided is for reference only, and investors are responsible for their own decisions. Views, analyses, and forecasts do not constitute investment advice, and no liability is accepted for losses resulting from the use of this content. Fund investments carry risks; past performance does not guarantee future results, and the performance of other funds managed by the manager does not ensure this fund’s performance. Invest with caution.
A golden cross MACD signal has formed, indicating positive momentum for several stocks.
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