--- title: "Trump claims the war between the U.S. and Iran is \"over,\" the non-ferrous metal ETF Tianhong (159157) saw a net subscription of over 70 million shares during the session, with a transaction amount reaching 150 million yuan, and its valuation is lower than over 61% of the time in the past decade" type: "News" locale: "en" url: "https://longbridge.com/en/news/282789758.md" description: "Trump claims the war against Iran is \"over,\" and the non-ferrous metal ETF Tianhong (159157) saw a net subscription of over 70 million shares during the session, with a transaction amount reaching 150 million yuan, valued at more than 61% lower than the past decade. This ETF tracks the Industrial Non-Ferrous Index, with the top five constituent stocks including CMOC and CHALCO. Recently, the ETF has attracted capital for 41 consecutive trading days, with a net inflow of 4.304 billion yuan, setting a new record in scale. The non-ferrous metal concept in the market has declined, with related constituent stocks generally falling" datetime: "2026-04-15T05:43:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282789758.md) - [en](https://longbridge.com/en/news/282789758.md) - [zh-HK](https://longbridge.com/zh-HK/news/282789758.md) --- # Trump claims the war between the U.S. and Iran is "over," the non-ferrous metal ETF Tianhong (159157) saw a net subscription of over 70 million shares during the session, with a transaction amount reaching 150 million yuan, and its valuation is lower than over 61% of the time in the past decade On the market, both exchanges opened high and fluctuated, with the non-ferrous metal concept declining. In terms of related ETFs, the non-ferrous metal ETF Tianhong (159157) saw its underlying index drop 0.42% during the session, with a net subscription of 71 million shares, ranking first among the same underlying in the Shenzhen market; the transaction amount reached 150 million yuan; the turnover rate was 2.32%. Among the constituent stocks, Zhongtung High-tech fell over 5%, with Xiamen Tungsten, Nanshan Aluminum, and Yun Aluminum also declining. It is noteworthy that Wind shows that the non-ferrous metal ETF Tianhong (159157) has achieved continuous "capital absorption" for nearly 41 trading days (from February 6, 2026, to April 14, 2026), with a cumulative net inflow of funds of 4.304 billion yuan in the last 30 trading days. As of April 14, 2026, the latest scale of the fund was 6.403 billion yuan, setting a new high since its listing, ranking first among the same underlying in the Shenzhen market. The non-ferrous metal ETF Tianhong (159157) closely tracks the Industrial Non-Ferrous Index, with its industry allocation mainly including industrial metals (58.08%), minor metals (25.18%), and comprehensive II (3.36%), with the top five constituent stocks being CMOC, Northern Rare Earth, CHALCO, 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 23.80 times, with the current valuation at the 38.52% percentile over the past decade, lower than the 61.48% time. In terms of news, there are signs of easing in the US-Iran situation. According to Xinhua News Agency, Trump stated on the 14th that the war against Iran by the United States is "over," and part of the Strait of Hormuz has resumed navigation, with the US dollar index hitting a new low for the stage. ① Supply-side disturbances are frequent: Indonesia's Ministry of Energy and Mineral Resources revised the nickel ore pricing formula on the 13th, raising the correction coefficient for 1.6% grade nickel ore from 17% to 30%; China plans to suspend sulfuric acid exports, and the Democratic Republic of the Congo's wet copper smelting faces raw material supply risks; Emirates Global Aluminum has suspended production due to an attack and has invoked force majeure clauses to suspend part of its deliveries; the Peruvian government has revoked key authorizations for Southern Copper's Tia Maria project. ② Cost pressures are transmitted, with sulfuric acid prices rising from 1,100 yuan/ton at the end of February to 1,780 yuan/ton, suppressing wet copper production capacity. ③ Inventory continues to deplete, with domestic electrolytic copper social inventory declining by 46% from its peak, and spot discounts narrowing. According to Business Society data, on April 15, the copper benchmark price was reported at 101,080 yuan/ton, and LME aluminum prices reached a four-year high. 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