Just announced: Abu Dhabi acquires the leading copper mining company for $3 billion; these six firms are heavily held by Goldman Sachs, Morgan Stanley, and UBS.

On the demand side, as the new-energy industry booms—wind and photovoltaic projects expand on a large scale, and new-energy vehicle production and sales continue to rise—copper demand in these sectors is surging explosively. Moreover, the wave of AI infrastructure construction is also generating substantial copper demand, further driving sustained growth in overall copper demand. The following seven companies are A-share copper-mining stocks heavily held by foreign institutional investors: First: Baose Co., Ltd. Recently, UBS purchased 580,000 shares of Baose Co., Ltd., becoming its tenth-largest shareholder. As a subsidiary of Shaanxi Nonferrous Metals Group, Baose specializes in non-standard pressure vessel equipment made from special materials. Its business covers R&D, design, manufacturing, and installation of non-standard pressure vessels using titanium, nickel, zirconium, tantalum, copper, and their alloys, high-grade stainless steels, and metal composite materials. Its products serve industries—including chemicals, metallurgy, power generation, and new energy—that require corrosion resistance, high-pressure tolerance, and high-temperature resistance. In the field of copper-related special-material non-standard equipment manufacturing, Baose demonstrates strong capabilities. The company has accumulated vast experience-based data and mastered key manufacturing technologies for high-end, large-scale, and heavy-duty equipment, effectively ensuring product safety, reliability, and cost efficiency. As a national “Little Giant” enterprise specializing in niche, sophisticated, and innovative technologies, several of its products have been designated provincial high-tech products or municipal brand-name products; the “BAOSE” brand is a China Famous Trademark. Second: Hebei Iron and Steel Co., Ltd. (HBIS) In Q3 last year, UBS significantly adjusted its position in HBIS, increasing its holdings by as many as 4 million shares, bringing its total stake to 9.3 million shares—a clear signal of UBS’s strong confidence in HBIS’s future growth potential. Meanwhile, the National Social Security Fund’s Portfolio No. 116 also recognized HBIS’s value and decisively acquired 5.07 million shares, further underscoring HBIS’s appeal to investment institutions. Although HBIS is renowned for its steel business, it exerts significant influence in the copper sector through its affiliated company, Hebei Iron and Steel Resources Group Co., Ltd. (Hegang Resources). Hegang Resources fully controls Palabora Mining Company (PC) in South Africa via its wholly owned subsidiary. PC dominates South Africa’s copper industry and is indisputably the country’s largest copper producer, leading locally in production scale, technological capability, and market share. Hegang Resources’ Phase II copper project has been successfully completed and commissioned, with a designed annual output of 70,000 tonnes of refined copper. According to the established plan, the project will reach full capacity by 2026—significantly boosting output while further enhancing product quality and production efficiency, thereby solidifying Hegang Resources’ global supply position in the copper market. Third: Zijin Mining Group Co., Ltd. UBS recently bought 181 million shares of Zijin Mining for over RMB 3 billion in a strong bottom-fishing move; Gao Yi Xiaofeng Fund also increased its stake to 184 million shares. Zijin Mining is a true “giant” in the global copper industry: in 2024, its mine-produced copper output reached 1.07 million tonnes, ranking it among the world’s top four. Its resource reserves are extraordinary—over 11 million tonnes of copper—and among the ten largest newly discovered copper deposits globally over the past two decades, Zijin Mining holds three: the Kamoa-Kakula Copper Mine in the Democratic Republic of Congo, the Timok Copper-Gold Mine in Serbia, and the Qulong Copper Mine in Tibet.

In the bull market, Goldman Sachs has positioned itself in two minor metals; Morgan Stanley holds ten; UBS holds six—the consolidated list.

Western Gold Co., Ltd.: market cap RMB 28.2 billion; P/B ratio 6.06x; Precious Metals Research Institute Co., Ltd. (GYPY): market cap RMB 13.4 billion; P/B ratio 1.82x; Zhaojin Gold Co., Ltd.: market cap RMB 11.1 billion; P/B ratio 17.95x; Sichuan Gold Co., Ltd.: market cap RMB 8.8 billion; P/B ratio 8.14x; Xinke Materials Co., Ltd.: market cap RMB 7.7 billion; P/B ratio 5.28x; Xiaocheng Technology Co., Ltd.: market cap RMB 7.1 billion; P/B ratio 7.86x; Dian Gong Alloy Co., Ltd.: market cap RMB 6.6 billion; P/B ratio 7.41x; Zhongyuan New Materials Co., Ltd.: market cap RMB 3.7 billion; P/B ratio 1.82x; Changlu Aluminum Co., Ltd.: market cap RMB 3.5 billion; P/B ratio 1.22x; Alloy Investment Co., Ltd.: market cap RMB 2.6 billion; P/B ratio 13.42x. Six minor-metal stocks heavily held by UBS in the A-share market: Oriental Zirconium Industry Co., Ltd.: market cap RMB 11.1 billion; P/B ratio 6.53x; Dian Gong Alloy Co., Ltd.: market cap RMB 6.6 billion; P/B ratio 7.38x; Xiaocheng Technology Co., Ltd.: market cap RMB 7.2 billion; P/B ratio 7.94x; Huayang New Materials Co., Ltd.: market cap RMB 3.2 billion; P/B ratio 22.28x; Alloy Investment Co., Ltd.: market cap RMB 2.6 billion; P/B ratio 13.44x; Lidao New Materials Co., Ltd.: market cap RMB 2.6 billion; P/B ratio 1.68x. Twelve minor-metal stocks heavily held by Barclays in the A-share market: Yunnan Germanium Industry Co., Ltd.: market cap RMB 13.1 billion; P/B ratio 10.15x; Galaxy Magnets Co., Ltd.: market cap RMB 9.1 billion; P/B ratio 7.12x; Zhongzhou Special Materials Co., Ltd.: market cap RMB 7.8 billion; P/B ratio 6.58x; Xiaocheng Technology Co., Ltd.: market cap RMB 7.2 billion; P/B ratio 7.94x; Zhongke Magnetoelectric Co., Ltd.: market cap RMB 6.9 billion; P/B ratio 6.32x; Xinke Materials Co., Ltd.: market cap RMB 7.7 billion; P/B ratio 5.28x; Changlu Aluminum Co., Ltd.: market cap RMB 3.5 billion; P/B ratio 1.22x; Huayang New Materials Co., Ltd.: market cap RMB 3.2 billion; P/B ratio 22.28x; Minfa Aluminum Industry Co., Ltd.: market cap RMB 3.0 billion; P/B ratio 1.45x; Alloy Investment Co., Ltd.: market cap RMB 2.6 billion; P/B ratio 13.44x; Luoping Zinc & Electricity Co., Ltd.: market cap RMB 2.5 billion; P/B ratio 3.18x; Lidao New Materials Co., Ltd.: market cap RMB 2.6 billion; P/B ratio 1.68x. The above data represents my comprehensive review of all A-share stocks. These are all non-ferrous metal companies heavily held by foreign institutions—specifically, those where foreign investors rank among the top ten shareholders. The data is readily verifiable and easy to track.

UBS Group AG Increases Stake in Element Solutions Inc.

May 10, 2026

UBS Group AG increased its stake in Element Solutions Inc. by 13.8% to $29.5 million following strong Q1 2026 results with $840 million revenue. Despite analyst positivity, an insider recently sold nearly half of their holdings.

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