Core Viewpoint - The article discusses the ongoing struggle between the US dollar and the Chinese yuan in the context of global metal pricing, highlighting the recent suspension of non-dollar futures trading by the London Metal Exchange (LME) as a strategic move to maintain US dominance in metal pricing [1][3][10]. Group 1: Market Dynamics - The LME suspended non-dollar futures trading citing "insufficient liquidity," while claiming that the market options for the euro and yuan are declining, indicating a regulatory response to maintain system costs [1][3]. - As of mid-2023, copper trading in yuan is approaching 500,000, showing a steady growth trend, which contrasts with the LME's decision and suggests underlying market complexities [3]. - The US government's monetary policies, including rate cuts and quantitative easing, are seen as temporary measures that may lead to increased global metal prices, further complicating the market dynamics [5][7]. Group 2: Geopolitical Implications - The US is attempting to establish a critical minerals alliance with ten countries, indicating a strategic move to secure resources essential for high-end manufacturing [7][10]. - The article suggests that the US's efforts to bind the dollar to critical minerals may face challenges, as resource-rich countries have no incentive to be tied to the dollar [10]. - The global metal pricing landscape is evolving into a dual-regulation system, with participants navigating between the dollar-dominated LME and the yuan-dominated Shanghai Futures Exchange, potentially favoring the yuan for its stability and convenience [10][11].