The performance of the non-ferrous metals sector is mixed, with lithium carbonate prices continuing to rise. The TaiKang (159163) non-ferrous ETF has seen a net inflow of over 18 million yuan in the past 10 trading days.

As of 13:31 on March 26, 2026, the TaiKang Non-Ferrous Metal ETF (159163) had a intraday turnover rate of 2.73% with a transaction volume of 5.4654 million yuan. The CSI Non-Ferrous Metal Mining Industry Index (931892), which tracks the index, decreased by 1.84%. Among the constituent stocks, there were mixed gains and losses: China Minmetals Resources led with a 5.64% increase, Yongxing Materials rose by 2.55%, and Ganfeng Lithium increased by 1.95%; while China Tungsten High-tech declined by 4.88%, Western Mining decreased by 4.73%, and Hunan Silver fell by 3.87%.

By March 25, the TaiKang Non-Ferrous Metal ETF (159163) had increased its shares by 3 million over the past week, showing significant growth. Over the last 10 trading days, the ETF experienced net capital inflows on 7 days, totaling 18.0679 million yuan in “funding inflow.”

In terms of news, Zimbabwe’s ban on the export of lithium ore and concentrates, implemented on February 25, has lasted nearly a month with no signs of easing. The policy duration has significantly exceeded market expectations, continuously strengthening the outlook for tightening global lithium supply. This supply disruption has catalyzed a sustained rise in lithium carbonate prices. Wind data shows that lithium carbonate prices have been volatile since early 2025, reaching a low of 59,900 yuan/ton on June 24 of that year. Prices began to rise in the second half of 2024 and have increased by over 140% from the June 2025 lows to date.

Industry experts believe that the recent rise in lithium carbonate prices results from a combination of supply disruptions, changing expectations, and supply-demand dynamics. On the supply side, domestic lithium carbonate inventories are being depleted at a slower pace, with inventories at low levels across all segments, while Zimbabwe’s export ban adds further supply disruptions. On the demand side, driven by high oil prices and increased computing power needs overseas, energy storage demand has surged, pushing lithium carbonate prices higher.

Dongwu Securities pointed out that in the industrial metals sector, the market is gradually pricing in the long-term high energy costs and the possibility of interest rate hikes, leading to a significant correction in industrial metal prices. Regarding precious metals, market expectations of prolonged high energy and commodity prices have brought interest rate hike options into focus, causing a notable correction in precious metal prices. In the long term, a “stagnant growth environment” may help open upward space for gold prices.

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