Supply Tightening Expectations Strengthen, Structural Opportunities in Non-Ferrous Metals Emerge, Taikang Non-Ferrous ETF Receives Net Inflows for 3 Consecutive Days, Attracts Significant Capital Attention

As of March 16, 2026, 10:21 AM, the TaiKang Non-Ferrous ETF (159163) had a trading turnover of 4.%, with a transaction volume of 7.396 million yuan. The tracking index, the CSI Non-Ferrous Metals Mining Industry Index (931892), declined by 4.53%. The component stocks led by Shan Jin International dropped by 7.75%, Western Mining decreased by 7.30%, Western Gold fell by 6.63%, Yunnan Copper declined by 6.33%, and Huayou Cobalt dropped by 6.28%.

In terms of assets, the TaiKang Non-Ferrous ETF’s latest share count reached 242 million, hitting a new high since its inception. (Data source: Wind)

Regarding net capital inflow, the TaiKang Non-Ferrous ETF has experienced continuous net capital inflows over the past three days, with the highest single-day inflow of 3.6547 million yuan, totaling 7.2199 million yuan in “fund attraction,” with an average daily net inflow of 2.4066 million yuan. (Data source: Wind)

On the news front, the industrial non-ferrous metals sector has recently been driven by multiple factors. First, escalating Middle East geopolitical conflicts have caused substantial disruptions in the aluminum supply chain. Qatar Qatalum aluminum plant has fully shut down due to natural gas supply cuts, and Bahrain Alba Aluminum has declared force majeure due to blockage of the Strait of Hormuz, threatening about 7 million tons of smelting capacity in the region. Second, positive signals from the industry indicate that global mining giants like Rio Tinto are significantly raising aluminum premium prices for shipments to Japan next quarter by 40%, to $350 per ton, directly reinforcing market expectations of tightening supply. Additionally, the government work report emphasizes the focus on developing emerging pillar industries such as integrated circuits and low-altitude economy this year, which are key demand sectors for high-end non-ferrous metals.

CITIC Securities notes that on the demand side, sectors such as power grid investment, energy storage batteries, and AI servers are expected to maintain high prosperity, with structural demand resilience remaining strong. Moreover, stockpiling demands driven by trade disputes have also amplified demand, with copper, lithium, and rare earths likely benefiting from increased demand and price rises.

The TaiKang Non-Ferrous ETF (159163) closely tracks the CSI Non-Ferrous Metals Mining Industry Index, which selects 40 listed companies with non-ferrous metal mineral resources reserves from the non-ferrous metals industry as index samples, reflecting the overall performance of listed companies in the non-ferrous metals mining sector.

Data shows that as of February 27, 2026, the top ten holdings of the CSI Non-Ferrous Metals Mining Industry Index (931892) are Zijin Mining, Luoyang Molybdenum, Northern Rare Earth, Huayou Cobalt, Aluminum Corporation of China, Zhongjin Gold, Shandong Gold, Ganfeng Lithium, Industrial Silver Tin, and Xiamen Tungsten. These top ten stocks account for a total of 52.57% of the index weight. (The stocks listed above are only index components and do not constitute specific recommendations.)