As of 10:02 on the trading day, the CSI Industrial Non-Ferrous Metals Index (H11059.CSI), tracked by ChinaAMC Industrial Non-Ferrous Metals ETF (515040), rose by 1.26%. Among its constituents, Baiyin Nonferrous surged 9.93%, Xiamen Tungsten climbed 3.62%, and Xingye Silver-Tin increased by 3.19%.
The CSI Rare Metals Index (930632.CSI), tracked by ChinaAMC Rare Metals ETF (159053), gained 1.22%. Constituent stocks: Rongjie Co., Ltd. +6.11%, Zhuye Group +5.32%, Xiamen Tungsten +3.83%.
Several listed non-ferrous metal enterprises published their semi-annual reports on the evening of August 20. Xiamen Tungsten recorded operating revenue of RMB 35.014 billion in H1, up 81.70% YoY; net profit attributable to shareholders reached RMB 2.201 billion, rising 127.04% YoY. All three core business segments - tungsten-molybdenum, rare-earth and energy new materials - achieved simultaneous growth in revenue and profit.
CMOC Group posted H1 revenue of RMB 135.32 billion (+43% YoY), and attributable net profit of RMB 16.15 billion (+86% YoY). The company further unlocked production and sales potential for copper and gold, hitting new performance highs.
With mass publication of mid-year financial results, market focus is shifting from liquidity-driven trading toward fundamental performance-driven investment. Driven by scientific-technological innovation, corporate global expansion and traditional-industry transformation, rare metals are gaining growing strategic importance for new-energy, high-end manufacturing and aerospace sectors, bringing sustained long-term growth momentum for the whole non-ferrous metal sector.
China Merchants Securities Strategy Research: Divergence is widening across A-share market. Systemic liquidity improvement may be drawing to an end. Investors should prioritize structural opportunities backed by corporate earnings. A balanced allocation across three dimensions - tech innovation, overseas business expansion and undervalued traditional sectors - is recommended, with non-ferrous metals as one key industry track.
Introduction to Two ETF Products
ChinaAMC Rare Metals ETF (159053) Closely follows the CSI Rare Metals Index. It provides one-ticket exposure to strategic minor metals including rare-earth, lithium, cobalt and tungsten. High weights of Youyan New Materials and Yunnan Germanium Industry help diversify price risks of individual metals. Suitable for long-term allocation on strategic rare metals, with among the lowest expense ratios among comparable market products.
ChinaAMC Industrial Non-Ferrous Metals ETF (515040) Industrial metals such as copper, aluminum, lead and zinc account for more than 60% of index weight. Suited for investors bullish on manufacturing recovery and upstream resource demand from new-energy and AI industrial chains. It also features industry-leading low expense ratios.
Disclaimer: This article is compiled from public market information for industry reference only. It does not constitute any investment advice.
Foreign-Trade Keywords
Non-ferrous metal sector, rare metal, tungsten, molybdenum, new-energy upstream resources, AI industrial chain raw materials, A-share mid-year report, strategic minor metal
