--- title: "The tight supply and demand support the price center of non-ferrous metals. The non-ferrous metal ETF under Southern Fund, Southern Support, seizes the opportunity for the recovery of the non-ferrous market" type: "News" locale: "en" url: "https://longbridge.com/en/news/282800603.md" description: "As of April 15, 2026, the China Southern CSI SWS Non-Ferrous Metal ETF (512400) traded 1.063 billion yuan, while the tracked CSI SWS Non-Ferrous Metal Index (000819) fell by 1.67%. Institutional analysis suggests that gold benefits from improved risk appetite, copper prices are strong due to increased expectations of supply disruptions, aluminum prices are performing well due to supply contraction in the Middle East, and lithium prices may see a rebound against the backdrop of supply revisions. Overall, the non-ferrous metal market is gradually returning to supply and demand logic, which is expected to drive prices up" datetime: "2026-04-15T07:19:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282800603.md) - [en](https://longbridge.com/en/news/282800603.md) - [zh-HK](https://longbridge.com/zh-HK/news/282800603.md) --- # The tight supply and demand support the price center of non-ferrous metals. The non-ferrous metal ETF under Southern Fund, Southern Support, seizes the opportunity for the recovery of the non-ferrous market As of April 15, 2026, 14:51, the Non-ferrous Metal ETF China Southern (512400) had a turnover of 3.57% during the session, with a transaction volume of 1.063 billion yuan, while the tracking index, the China Southern CSI SWS Non-Ferrous Metal Index (000819), fell by 1.67%. What is the outlook for non-ferrous metals? Institutional analysis suggests that, by variety: ① Gold: Benefiting from improved risk appetite and restored expectations for interest rate cuts. ② Copper: In addition to sentiment recovery, copper prices are further impacted by supply disruptions due to price increases and shortages of key inputs like sulfur in the Democratic Republic of the Congo, which relies on hydrometallurgical copper refining; domestic copper mining companies are expected to benefit. ③ Aluminum: Aluminum prices have recently performed strongly, reflecting the ongoing market reaction to the contraction of global primary aluminum supply following disturbances in the Middle East. ④ Lithium: Lithium prices are relatively lagging in elasticity, but there is potential for a rebound given the continuous downward adjustment in supply and the rising expectations for energy electrification demand. Overall, non-ferrous metals are gradually breaking away from purely geopolitical sentiment pricing and returning to the logic of tight supply and rising price centers, with optimism for further price increases in non-ferrous commodities driving the recovery of equity markets. The Non-ferrous Metal ETF China Southern (512400) closely tracks the China Southern CSI SWS Non-Ferrous Metal Index, which selects 50 listed company securities from the non-ferrous metal and non-metal materials industries in the Shanghai and Shenzhen markets as index samples to reflect the overall performance of listed company securities in the non-ferrous metal industry. The top ten weighted stocks in the index are Zijin Mining, Luoyang Molybdenum, Northern Rare Earth, China Aluminum, Huayou Cobalt, Ganfeng Lithium, Zhongjin Gold, Shandong Gold, Chifeng Jilong Gold, and Yun Aluminum. The Non-ferrous Metal ETF China Southern (512400) has off-exchange connections (Class A: 004432; Class C: 004433) ### Related Stocks - [000819.CN](https://longbridge.com/en/quote/000819.CN.md) - [512400.CN](https://longbridge.com/en/quote/512400.CN.md) - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [603993.CN](https://longbridge.com/en/quote/603993.CN.md) - [03993.HK](https://longbridge.com/en/quote/03993.HK.md) - [600111.CN](https://longbridge.com/en/quote/600111.CN.md) - [601600.CN](https://longbridge.com/en/quote/601600.CN.md) - [02600.HK](https://longbridge.com/en/quote/02600.HK.md) - [603799.CN](https://longbridge.com/en/quote/603799.CN.md) - [002460.CN](https://longbridge.com/en/quote/002460.CN.md) - [01772.HK](https://longbridge.com/en/quote/01772.HK.md) - [600489.CN](https://longbridge.com/en/quote/600489.CN.md) - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [01787.HK](https://longbridge.com/en/quote/01787.HK.md) - [600988.CN](https://longbridge.com/en/quote/600988.CN.md) - [06693.HK](https://longbridge.com/en/quote/06693.HK.md) - [000807.CN](https://longbridge.com/en/quote/000807.CN.md) - [600916.CN](https://longbridge.com/en/quote/600916.CN.md) - [02099.HK](https://longbridge.com/en/quote/02099.HK.md) ## Related News & Research - [METALS-Nickel extends gains after Indonesia says it plans to centralise commodity exports](https://longbridge.com/en/news/287027198.md) - [Keep Your Portfolio Safe With This Low-Volatility ETF](https://longbridge.com/en/news/286604877.md) - [10X Fund Managers lists 1 million 10X Wealth GOVI ETF units at R 11.63 on JSE](https://longbridge.com/en/news/287065598.md) - [BNB ETF Could Be Next Big Crypto Breakthrough, Says Bloomberg Analyst](https://longbridge.com/en/news/286639724.md) - [This ETF Is Flying High Again. 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