Oversold rebound? Or ending 9 consecutive down days! Huabao Fund Precious Metals ETF (159876) surges 1.79% intraday, highlighting low-position layout opportunities

On Tuesday, March 24th, major A-share indices collectively rose, with the non-ferrous metals sector leading the gains. The comprehensive non-ferrous metal industry leaders, including gold, rare earths, copper, and aluminum, are covered by the Non-Ferrous ETF (159876). Its intraday price surged by 1.79% in the early trading session and is now up 1.48%, potentially ending a nine-day losing streak. Notably, the ETF’s current intraday price is at last December’s level, offering a low-position opportunity for funds optimistic about the non-ferrous metals market.

In terms of constituent stocks, Guocheng Mining and Baiyin Nonferrous led gains of over 6%, Yunnan Geology and Yongxing Materials rose more than 5%, with stocks like Hunan Baiyin, Xingye Silver Tin, Tianqi Lithium, and Luoyang Molybdenum also advancing.

Huatai Securities believes that the medium-term logic of the non-ferrous metals sector remains intact: Gold historically tends to rebound quickly after geopolitical conflicts end, with central bank holdings providing a bottom support; industrial metals like copper face tight supply at the mine and domestic inventory depletion, while aluminum’s Middle Eastern capacity risks are not fully priced in, with fundamentals still supporting; small metals such as rare earths, tungsten, molybdenum, and cobalt are catalyzed by geopolitical conflicts, with strategic reserves and military procurement expectations strengthening. Supply is highly concentrated domestically, and external shocks are hard to replace, making their resilience and medium-term allocation value more prominent. Overall, the recovery after overselling is worth active attention.

【The non-ferrous metals boom has arrived, and the “super cycle” is unstoppable】

The Non-Ferrous ETF Huabao (159876) and its associated funds (A: 017140, C: 017141) track indices covering industries such as copper, aluminum, gold, rare earths, and lithium, including precious metals (hedging), strategic metals (growth), and industrial metals (recovery), spanning different economic cycles. This comprehensive coverage better captures the beta trend of the entire sector. Additionally, the 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’s non-ferrous ETF (159876) 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, it ranks first in both size and liquidity.

Reminder: Recent market volatility may be significant, and short-term fluctuations do not predict future performance. Investors should invest rationally based on their own financial situation and risk tolerance, paying close attention to position sizing and risk management.

ETF fee-related notes: When subscribing or redeeming fund shares, authorized agencies may charge a commission of up to 0.5%. Intraday trading fees are subject to the actual charges of securities firms. No sales service fee is charged for ETFs.

Associated fund fee notes: Huabao CSI Non-Ferrous Metals ETF Initiated Fund (A) has a subscription fee of 1,000 yuan per transaction for subscriptions of 2 million yuan or more, 0.6% for 1-2 million yuan, and 1% for less than 1 million yuan; redemption fees are 1.5% if held less than 7 days, and 0% if held 7 days or more, with no sales service fee. The C class of the same fund charges no subscription fee, with redemption fees of 1.5% if held less than 7 days and 0% otherwise; sales service fee is 0.3%.

Risk warning: Huabao non-ferrous ETF passively tracks the CSI Non-Ferrous Metals Index, which was launched on July 13, 2015, with a base date of December 31, 2013. The index’s annual gains/losses over the past five full years are: 2021, 35.89%; 2022, -19.22%; 2023, -10.43%; 2024, 2.96%; 2025, 91.67%. The index components are adjusted periodically according to the index rules. Past performance does not predict future results. The constituent stocks shown are for display only; stock descriptions are not investment advice and do not reflect holdings or trading activity of any fund managed by the manager. The risk level of this fund is assessed as R3—medium risk, suitable for balanced (C3) and above investors. Suitability opinions are subject to sales institutions. All information in this article (including stocks, comments, forecasts, charts, indicators, theories, and any other statements) is for reference only. Investors are responsible for their own investment decisions. The views, analysis, and forecasts in this article do not constitute investment advice, and the fund manager is not responsible for any direct or indirect 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 guarantee the performance of this fund. Invest cautiously.