这下该傻眼了！伦敦交易所踢中国出局，紧要关头全球资本弃美投中

Core Viewpoint - The London Metal Exchange (LME) has announced that all metal futures trading must be settled in US dollars starting November 10, effectively suspending non-dollar denominated contracts, including those priced in Chinese yuan, raising questions about the underlying motives behind this decision [1][3][5]. Group 1: Market Dynamics - The trading volume of yuan-denominated copper futures reached 357,000 contracts in 2024, increasing to 482,000 contracts in the first half of 2025, indicating a growth of nearly 35%, contradicting LME's claim of "insufficient liquidity" [3]. - The LME's decision coincides with the US's plan to increase money supply and accelerate printing in December, suggesting a strategic move to maintain the dollar's dominance in the global commodities market [3][5]. - The LME, as a key platform for metal futures, has historically favored the dollar, despite the rising international status of the yuan [5][10]. Group 2: Geopolitical Implications - The suspension of yuan futures appears to be a measure to protect the dollar's hegemony amid China's growing influence in the global metal market [5][8]. - The US has formed a critical mineral alliance with several countries to stabilize supply chains for essential metals, aiming to tie these resources to the dollar, which is seen as a direct challenge to China's rising market power [8][10]. Group 3: Shift in Trading Preferences - The Shanghai Futures Exchange has been gaining prominence, with significant increases in trading volumes for metals like copper and aluminum, indicating a shift away from dollar-denominated transactions [12][14]. - Following the LME's announcement, trading volume for copper futures on the Shanghai Futures Exchange surged by 15%, demonstrating a preference for yuan settlements among global traders [12][19]. - Major international companies, including BMW and Volkswagen, have begun using yuan for metal transactions, reflecting a growing trend towards yuan settlements [14]. Group 4: Future Outlook - The rise of the yuan in metal trading is expected to lead to a dual pricing system where both the dollar and yuan coexist, enhancing market diversity and fairness [17][19]. - The promotion of digital yuan in countries like Indonesia, Chile, and Iran is laying the groundwork for further internationalization of the yuan, potentially reducing reliance on dollar settlements [16][19]. - The overall trend suggests that global capital is increasingly inclined towards markets that offer stable, transparent, and low-cost trading options, with yuan settlements becoming a significant choice [19].