On August 29, the Non-ferrous Metals Leading ETF (159876), which encompasses leading companies in the non-ferrous metals industry, saw its intraday price surge over 2%, currently trading up 1.49% and testing stage highs.
Among constituent stocks, China Rare Earth Resources And Technology Co.,Ltd. hit the daily limit, while Jiangxi Copper and Shenghe Resources delivered impressive performances with daily gains of 4.72% and 4.54% respectively. Conversely, Bowei Alloy, Nanshan Aluminum, and Western Superconductor showed relatively weak performance, declining 2.89%, 2.85%, and 2.18% respectively.
The Non-ferrous Metals Leading ETF (159876) passively tracks the CSI Non-ferrous Index (930708), which gained 1.59% on the day. The index's top ten weighted stocks include Northern Rare Earth, China Molybdenum, Shandong Gold, Aluminum Corporation of China, Huayou Cobalt, Zhongjin Gold, Chifeng Jilong Gold, Ganfeng Lithium, Yunnan Aluminum, and Zijin Mining Group Company Limited.
Top Ten Constituent Stocks of Non-ferrous Metals Leading ETF (159876)
On the news front, Zijin Mining Group Company Limited released its 2024 interim report on August 26, achieving revenue of 167.7 billion yuan and net profit attributable to shareholders of 23.3 billion yuan in the first half, representing year-over-year increases of 11.5% and 54.4% respectively.
Huachuang Securities noted that Powell's remarks have strengthened rate cut expectations, potentially driving precious metals prices higher. Recent consecutive declines in aluminum rod inventory indicate market consumption recovery. With the approaching "Golden September, Silver October" peak season, improving macroeconomic conditions, and potential supply risks in electrolytic aluminum, aluminum prices may find support while industry profits are expected to remain elevated. Declining alumina prices are driving profit recovery in the electrolytic aluminum sector, warranting attention to subsequent inventory trends.
Nanjing Securities pointed out that regarding industrial metals, copper prices showed volatile movement this week with little change in domestic and overseas inventories. On the overseas macro front, the Federal Reserve released dovish signals, with market expectations for rate cuts resuming in September warming up. As domestic real estate and infrastructure enter the seasonal peak, traditional copper demand is expected to bottom out and recover. Meanwhile, copper consumption in new sectors such as new energy vehicles, photovoltaics, and AI continues to increase, providing stable support for downstream copper demand. Aluminum prices fluctuated slightly, with alumina prices oscillating around 3,200 yuan per ton. Overall supply and demand remain oversupplied, expected to continue range-bound fluctuations. Electrolytic aluminum social inventory accumulation has slowed, demand is expected to gradually recover, and the implementation of macro policies is expected to further support downstream aluminum demand, with electrolytic aluminum gross profit per ton maintaining relatively high levels.
Data sourced from Shanghai and Shenzhen Stock Exchanges and public materials.
Risk Warning: The above products are issued and managed by fund management companies, and distribution agencies do not assume responsibility for product investment, redemption, and risk management. Investors should carefully read fund legal documents such as the "Fund Contract," "Prospectus," and "Fund Product Information Summary" to understand the fund's risk-return characteristics and select products appropriate to their risk tolerance. Past fund performance does not predict future performance, and fund investment requires caution! Distribution agencies (including fund management company direct sales agencies and other distribution agencies) conduct risk assessments of the fund according to relevant laws and regulations. Investors should pay timely attention to suitability opinions issued by fund management companies. Suitability opinions from various distribution agencies may not necessarily be consistent, and fund product risk level assessment results issued by fund distribution agencies shall not be lower than those made by fund management companies. Differences exist between fund risk-return characteristics and fund risk levels in fund contracts due to different consideration factors. Investors should understand the fund's risk-return situation, combined with their investment objectives, terms, investment experience, and risk tolerance, carefully select fund products and assume risks independently. The registration of the above funds by the China Securities Regulatory Commission does not indicate any substantive judgment or guarantee regarding their investment value, market prospects, and returns. Fund investment requires caution.
MACD golden cross signal formed, these stocks show good upward momentum!