GF MSCI Global Strategic Metals Select ETF (03566.HK) Falls 2.09% to HKD 13.110

NewTimeSpace News: As of 11:23 on October 23, GF MSCI Global Strategic Metals Select ETF (03566.HK) stood at HKD 13.110, down 2.09%. The ETF opened at HKD 12.960, with the latest net asset value (NAV) at HKD 13.965, a premium of 1.06%, a 52-week high of HKD 15.120, a 52-week low of HKD 12.950, a turnover of approximately HKD 49,400, and assets under management of approximately HKD 324 million.

On the news front, the non-ferrous metals sector is in a tug-of-war between macro pressure and supply-demand fundamentals. At the macro level, Fed rate-hike expectations have been a key driver of the recent correction, with precious metals' financial attributes under short-term pressure. However, institutions broadly agree that sustained central bank gold purchases, safe-haven demand, and changes in dollar credit continue to provide medium- to long-term support for gold; once monetary policy expectations improve marginally, falling real yields could unlock price elasticity for gold and silver. For copper, China's spot copper concentrate treatment charges have fallen to a historic low of -USD 240.93/dmt, underscoring persistent hard constraints on mine supply; meanwhile, grid investment, AI data centers, and new energy vehicles provide structural demand-side support, laying the groundwork for a systematic upward shift in the copper price center.

On the strategic metals front, rigid rare earth supply combined with emerging demand growth from new energy vehicles and humanoid robots is expected to support a higher price center; tin, supported by resource scarcity and the semiconductor upcycle, is likely to see its tight supply-demand balance persist in the near term. On the geopolitical front, China stated on October 21 that it is lawfully implementing export controls on Japan in response to Japan's dwindling yttrium stockpiles, reiterating that its position on maintaining the stability and security of global critical mineral supply chains remains unchanged, keeping the supply chain security premium for rare earths and other critical minerals intact.

GF MSCI Global Strategic Metals Select ETF (03566.HK) tracks the MSCI Global Strategic Metals Select Index (Net Total Return, USD denominated), covering precious metals, industrial non-ferrous metals, and rare metals across the strategic metals landscape, reflecting the equity performance of relevant companies rather than spot metal prices. The ETF listed on the HKEX on September 28, 2026, is managed by GF International Asset Management, with a total expense ratio of 1.0% (management fee 0.90%).