期现联动做强“上海价格”，有色金属大宗商品能级再提升

Core Viewpoint - Shanghai is actively enhancing its global influence in the pricing of non-ferrous metals through the implementation of the "Action Plan" aimed at strengthening the linkage between futures and spot markets, thereby promoting internationalization and improving the pricing capabilities of non-ferrous metal commodities [3][5]. Group 1: Market Development and Structure - Shanghai is positioned as a key player in the economic transformation and adjustment of international trade patterns, with non-ferrous metals becoming essential resources for global industrial competition and technological innovation [5]. - The Shanghai Futures Exchange has listed 25 futures and 18 options products, covering major non-ferrous metals, with Shanghai copper emerging as a significant pricing center globally [5][6]. - The Shanghai Clearing House has established a framework for over-the-counter (OTC) derivatives trading and risk management, supporting the development of the non-ferrous metals market [6]. Group 2: Action Plan Measures - The "Action Plan" includes 18 specific measures across three main areas: enhancing market connectivity, improving internationalization, and fostering a robust market ecosystem [8][9]. - Measures to strengthen the linkage between futures, spot, and OTC markets include collaboration between the Shanghai Clearing House and the Shanghai Futures Exchange to improve risk management and operational efficiency [8]. - The plan aims to expand the internationalization of non-ferrous metal futures and options, exploring cross-border delivery mechanisms and enhancing the influence of "Shanghai prices" in global markets [9]. Group 3: Future Implementation - The Shanghai Municipal Financial Office will work with relevant departments to implement the "Action Plan," focusing on market connectivity and supporting the real economy in the non-ferrous metals sector [9].