--- title: "Ceasefire between the U.S. and Iran! The Tianhong (159157) Non-Ferrous Metal ETF's underlying index surged over 4% during the session, with the current valuation being lower than over 60% of the time in the past decade" type: "News" locale: "en" url: "https://longbridge.com/en/news/281959369.md" description: "After the ceasefire between the U.S. and Iran, the Tianhong (159157) non-ferrous metal ETF's underlying index rose 4.07% during intraday trading, with subscription amounts reaching 1 million shares and a transaction volume of 13.6151 million yuan. This ETF has achieved a net inflow of 4.384 billion yuan over the past 36 trading days, with a scale reaching 5.695 billion yuan, setting a new high since its listing. The industrial non-ferrous index has increased by 108.86% over the past year, and its current valuation is at the 37.04th percentile over the past decade, providing a cost-performance advantage. Due to the impact of geopolitical conflicts in the Middle East, aluminum production capacity has been disrupted, while domestic macro data is showing signs of recovery, indicating a strong industry fundamental" datetime: "2026-04-08T02:08:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281959369.md) - [en](https://longbridge.com/en/news/281959369.md) - [zh-HK](https://longbridge.com/zh-HK/news/281959369.md) --- # Ceasefire between the U.S. and Iran! The Tianhong (159157) Non-Ferrous Metal ETF's underlying index surged over 4% during the session, with the current valuation being lower than over 60% of the time in the past decade On the market, both exchanges opened high and rose, with the non-ferrous metal concept increasing. In terms of related ETFs, the non-ferrous metal ETF Tianhong (159157) saw its underlying index rise by 4.07% during the trading session, with a subscription amount reaching 1 million shares, ranking first among similar funds in the Shenzhen market; the transaction amount reached 13.6151 million yuan; the turnover rate was 0.23%. Among the constituent stocks, Xingye Silver Tin, Jincheng Gold, Luoyang Molybdenum, Western Mining, and Zijin Mining rose over 5%, with several stocks like Silver Non-Ferrous, Huayou Cobalt, and Western Superconducting also following suit. It is worth noting that Wind shows that the non-ferrous metal ETF Tianhong (159157) has achieved continuous "capital absorption" over the past 36 trading days (from February 6, 2026, to April 7, 2026), with a cumulative net inflow of 4.384 billion yuan over the last 30 trading days. As of April 7, 2026, the latest scale of this fund reached 5.695 billion yuan, setting a new high since its listing, ranking first among similar funds in the Shenzhen market. The non-ferrous metal ETF Tianhong (159157) closely tracks the Industrial Non-Ferrous Index, which has increased by 108.86% over the past year. Its industry allocation mainly includes industrial metals (58.08%), minor metals (25.18%), and comprehensive II (3.36%), with the top five constituent stocks being Luoyang Molybdenum, Northern Rare Earth, China Aluminum, Yun Aluminum, and Xiamen Tungsten. This ETF is also equipped with two off-market connection funds (Class A: 017192; Class C: 017193). Data from the past decade shows that the PE-TTM of the Industrial Non-Ferrous Index is 22.39 times, with the current valuation at the 37.04% percentile over the past decade, lower than the 62.96% time over the same period. From the perspective of valuation levels, the index has certain cost-performance advantages. In terms of news, ① The escalation of geopolitical conflicts in the Middle East has led to hard damage on the supply side. According to a research report from Guosheng Securities, Emirates Global Aluminum and Bahrain Aluminum have been attacked and halted production, affecting a total capacity of about 2.22 million tons, accounting for about 3% of global total capacity; ② Domestic macro data is warming, with the official manufacturing PMI in March rising to 50.4%, returning to the expansion range, and the new orders index showing a significant rebound; ③ The industry fundamentals are strong, with data from the China Nonferrous Metals Industry Association showing that the total profit of large-scale non-ferrous enterprises grew by 133.5% year-on-year in January-February; ④ On the policy front, the State Council announced the "Regulations on the Safety of Industrial and Supply Chains," strengthening the safety of key mineral resources such as copper and aluminum. 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