9 Consecutive Down Days Dug Out a "Golden Pit"! Huabao Nonferrous Metals ETF (159876) Surges Over 3% for 2 Consecutive Days with Strong Rebound

After a 3.16% increase yesterday, on March 25th, the popular ETF focused on non-ferrous metals—Huabao Non-Ferrous Metal ETF (159876)— surged over 4% in the morning session. This not only ended the previous nine consecutive days of decline but also showed a strong rebound signal with two consecutive days of significant recovery.

On the news front, the U.S. is considering a one-month ceasefire and discussing a 15-point agreement with Iran, leading to a rally in global assets and a sharp drop in oil prices. It is reported that the U.S. government has proposed a conflict-ending plan with Iran that includes 15 conditions covering nuclear programs, missile capabilities, and regional issues. The U.S. is contemplating pushing for a one-month ceasefire and negotiating based on these terms. International oil prices briefly plummeted, with U.S. crude falling below $90. Meanwhile, precious metals surged, with spot gold rising sharply past $4,500.

Huatai Securities is optimistic about the rebound opportunities in the undervalued non-ferrous metals sector: Regarding gold, historical patterns show rapid rebounds after geopolitical conflicts end, supported by continuous central bank purchases providing a bottom support; for industrial metals, copper supply remains tight at the mine level and domestic inventories are being depleted, while aluminum capacity risks in the Middle East are not fully priced in, with fundamental support still in place; for minor metals, rare earths, tungsten, molybdenum, and cobalt are catalyzed by geopolitical conflicts, with strategic reserves and military replenishment expectations strengthening. Supply is highly concentrated domestically, and external shocks are hard to replace, making these metals more resilient and valuable for medium-term allocation. The overall recovery after significant undervaluation warrants active attention.

The Huabao Non-Ferrous Metal ETF (159876) and its associated fund (017140) track indices covering copper, aluminum, gold, rare earths, lithium, and other industries, including precious metals (hedging), strategic metals (growth), and industrial metals (recovery), spanning different economic cycles. This comprehensive coverage better captures the beta movements of the entire sector. Additionally, this ETF is a margin trading target, serving as an efficient tool for one-click exposure to the non-ferrous metals sector. As of the end of February, Huabao Non-Ferrous Metal ETF had a latest scale of 2.427 billion yuan, with an average daily trading volume exceeding 100 million yuan over the past month. Among the three ETFs tracking the same index in the market, it ranks first in both size and liquidity.

Daily Economic News

(Edited by: Zhang Xiaobo)

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