2月份，美国启动232调查，说进口铜威胁国家安全。7月底，特朗普签令，从8月起对半成品铜加50%关税。 结果贸易商蜂拥把铜运往纽约仓库，3月份就有50万吨铜转向美国。本来这些货该去亚洲，现在亚洲现货溢价飙到每吨200美元。中国企业买原料贵，卖产品 利润薄。 更棘手的是上游，美国6月和刚果金签协议，投10亿多美元换矿权，刚果铜占全球两成，这明显冲着中国企业来，阻挠我们在南美和非洲的矿业投资。 中国没慌张，稳扎稳打甩出第一招：拓宽矿源渠道。国内云南和西藏新矿区上马，年产能加了10万吨以上。 在海外，紫金矿业在刚果金扩股，铜出口对中国增速38%。江西铜业在赞比亚建新厂，精矿供应稳了。废铜回收也提速，率子到42%，宁波从非洲进口铜跳 了近八成。 铜本来是工业里的老实材料，现在却成了大国间拉锯的焦点。2025年，全球铜价一路狂飙，伦敦期货冲到每吨12000美元附近，上海期货也顶上9万人民币。 背后推手是美国，他们消费全球铜才6%，却把交易所库存堆到40万吨，占了七成多。这是想在战略上掐住中国脖子。 中国用铜占全球一半以上，新能源车、光伏这些产业离不开它。美国从年初就开始动手，库存从8万多吨翻倍增长，把全球供应搅得一团乱 ...

经中国证监会同意注册，铂、钯期货11月27日在广州期货交易所上市。截至收盘，铂、钯期货当日成交 额合计422.8亿元。相关期权合约也将于11月28日起上市交易。 作为铂族金属核心品种，铂、钯素有"工业维生素"之称，在汽车尾气净化、氢能催化、光伏制造等绿色 产业中具有不可替代的作用。我国作为全球最大的铂、钯消费国，消费占比超全球20%，其中60%的铂 和近80%的钯应用于绿色相关产业，但其储量占比全球不足0.1%，供应高度依赖进口，国内企业长期面 临国际价格波动与供应链安全双重风险。 铂、钯期货上市后，将提升我国在全球铂、钯市场中的定价话语权。广州期货交易所高级执行经理陈宣 辰在接受媒体采访时表示，铂、钯期货上市是广期所服务绿色发展的又一重要举措，将完善我国铂、钯 定价机制，为产业企业提供远期价格信号和风险管理工具，服务我国铂、钯产业保供稳价。国内企业在 国际贸易中可以使用人民币计价的铂、钯期货价格作为定价基准，增加我国在国际贸易中的主动性，提 升我国铂、钯价格的国际影响力。 ...

Group 1 - The recent policy document emphasizes the opening of the futures market, focusing on specific domestic futures products, which is expected to enhance market development and attract more domestic and foreign investors [1] - The current global commodity pricing power is dominated by Western markets, and there is a pressing need for China to enhance its influence in the international commodity futures market to stabilize its supply chain and promote high-quality economic development [2][3] - The authorization of domestic futures product settlement prices to foreign exchanges is seen as a way to increase the international dissemination and influence of Chinese futures prices, making "Chinese prices" a significant reference in global commodity trade [2] Group 2 - The diversification of the futures market is anticipated to improve its competitiveness, transparency, and stability, necessitating a gradual exploration of suitable opening paths based on market conditions and investor needs [3] - The China Securities Regulatory Commission has been steadily promoting the opening of the futures market, with plans to expand the range of tradable products for qualified foreign institutional investors, increasing the number of futures and options products available [4] - The number of effective foreign clients in China's futures market has seen a 17% year-on-year increase, while the participation of foreign clients in trading has also grown, with a 28% increase in their positions [4] Group 3 - The opening of the futures market is directly related to China's financial market competitiveness and influence, with expectations that it will attract more international capital and promote the prosperity of the domestic financial market [5] - The increasing diversity of opening paths for the futures market is expected to broaden its service scope for the national economy and enhance the influence of "Chinese prices" in international markets [5]