As geopolitical tensions ease, the non-ferrous mining sector welcomes favorable conditions, with the Guotai mining ETF (561330) rising over 1.6% during trading

Geopolitical tensions are easing, bringing favorable conditions for the non-ferrous mining sector. The Guotai mining ETF (561330) rose over 1.6% during intraday trading on April 20. Dongfang Securities pointed out that although the ongoing geopolitical tensions will exacerbate short-term volatility in non-ferrous metals, signs of overall easing are gradually emerging. Market pricing for non-ferrous metals will increasingly anchor on the Federal Reserve's policy path and the supply and demand of various commodities. Against the backdrop of the domestic spot market's peak season, downstream companies' willingness to take delivery continues, and copper and aluminum inventories are being reduced, indicating a gradual recovery in demand. The Guotai mining ETF tracks the non-ferrous mining index, focusing on upstream companies with mineral resources