Core Viewpoint - The Shanghai Municipal Financial Office, in collaboration with various financial institutions, has introduced an action plan aimed at enhancing the linkage between the futures and spot markets for non-ferrous metals, thereby improving the international competitiveness and pricing influence of Shanghai's non-ferrous metal commodities [1][2]. Group 1: Action Plan Overview - The action plan includes 18 specific measures divided into three main parts, focusing on market interconnectivity, internationalization, and ecosystem development for non-ferrous metals [2]. - It aims to promote the use of futures prices in trade settlements and encourages financial institutions to utilize hedging tools to mitigate price volatility risks [2][3]. Group 2: Market Interconnectivity - The plan supports the establishment of efficient and secure settlement systems for non-ferrous metal spot markets through commodity clearing channels [2]. - It encourages the development of price indices by trading venues and index service providers, facilitating trade settlements based on these indices [2]. Group 3: Internationalization of the Market - The action plan emphasizes international cooperation, aiming to explore cross-border business and product innovations with foreign regulatory bodies and exchanges [2]. - It proposes expanding the openness of Shanghai's non-ferrous metal futures market and exploring cross-border delivery models [2]. Group 4: Ecosystem Development - The plan advocates for the application of blockchain technology in the non-ferrous metal sector to enhance data sharing across platforms and institutions [3]. - It aims to strengthen the functionality of national commodity warehouse registration centers and expand the coverage of warehouse receipt registration for key non-ferrous metal products [3]. Group 5: Importance of Non-Ferrous Metals - Non-ferrous metals are increasingly vital to the national economy, especially with the growth of strategic emerging industries such as new energy vehicles and aerospace [4]. - Shanghai has developed a comprehensive market structure for non-ferrous metals, integrating futures, spot, and over-the-counter derivatives markets [4]. Group 6: Futures and Derivatives Market - The Shanghai Futures Exchange has listed 11 non-ferrous metal futures and 10 options, with some products gaining global pricing capabilities, positioning Shanghai among the top three global pricing centers for non-ferrous metals [4]. - The Shanghai Clearing House has established a framework for over-the-counter commodity derivatives, providing central counterparty clearing services for various products [5][6].

Group 1 - The core viewpoint of the article highlights a significant increase in precious metal prices, particularly silver, which rose by 4.01% to $66.3146 per ounce, surpassing its previous historical high of $64.6573 set on December 12 [1] - COMEX silver futures experienced a 5.19% increase, reaching $66.610 per ounce, and also broke the previous intraday high of $65.085 from December 12 [1] - COMEX copper futures rose by 1.29% to $5.4280 per pound, with a daily high of $5.4655 [1] Group 2 - Spot platinum increased by 2.98%, reaching $1900.18 per ounce, while the historical high was recorded at $2300 on March 4, 2008 [1] - Spot palladium saw a rise of 3.05%, reaching $1651.61 per ounce [1]

Group 1: Price Performance - London Gold's latest price is 3951.10 with a change of -74.15 [3] - London Silver's latest price is 47.76 with a change of -1.02 [3] - London Platinum's latest price is 1580.00 with a change of -9.00 [3] - London Palladium's latest price is 1463.00 with a change of -2.00 [3] - WTI Crude's latest price is 61.05 with a change of 0.00 [3] - LME Copper's latest price is 10692.00 with a change of -220.00 [3] - US Dollar Index's latest price is 99.88 with a change of 0.00 [3] - Euro to US Dollar's latest price is 1.15 with a change of 0.00 [3] - British Pound to US Dollar's latest price is 1.31 with a change of 0.00 [3] - US Dollar to Japanese Yen's latest price is 154.21 with a change of 0.00 [3] - US 10 - year TIPS's latest price is 1.82 with a change of 0.00 [3] Group 2: Trading Data - COMEX Silver's latest inventory is 15002.46 with a change of 0.00 [4] - SHFE Silver's latest inventory is 665.61 with a change of 6.76 [4] - Gold ETF's latest holding is 1038.63 with a change of -3.15 [4] - Silver ETF's latest holding is 15189.82 with a change of 0.00 [4] - SGE Silver's latest inventory is 1050.68 with a change of 0.00 [4] - SGE Gold's latest deferred fee payment direction is 1 with a change of 0.00 [4] - SGE Silver's latest deferred fee payment direction is 2 with a change of 0.00 [4]

Price Performance - London Gold's latest price is 4025.25 with a change of 13.75 [2] - London Silver's latest price is 48.78 with a change of -0.18 [2] - London Platinum's latest price is 1589.00 with a change of -10.00 [2] - London Palladium's latest price is 1465.00 with a change of 37.00 [2] - WTI Crude's latest price is 61.05 with a change of 0.07 [2] - LME Copper's latest price is 10912.00 with a change of 29.00 [2] Trading Data - SHFE Silver's latest inventory is 658.85 with a change of -6.69 [3] - Gold ETF's latest holding is 1041.78 with a change of 2.58 [3] - Silver ETF's latest holding is 15189.82 with no change [3] - SGE Silver's latest inventory is 1050.68 with no change [3] - SGE Gold's latest deferred fee payment direction is 1 with no change [3] - SGE Silver's latest deferred fee payment direction is 2 with no change [3]

1. Report Industry Investment Rating - Not provided in the document 2. Core View of the Report - Not provided in the document 3. Summary by Related Content 3.1 Price Quotes of Various Commodities - London gold latest price is $3133.70, up $18.60 [1] - London silver latest price is $33.97, up $6.00 [1] - London platinum latest price is $993.00, up $7.00 [1] - London lithium latest price is $986.00, down $0.09 [1] - WTI crude latest price is $71.20, down $0.28 [1] - LME copper latest price is $9781.00, up $19.50 [1] 3.2 Currency and Bond Quotes - Dollar index latest is 149.62 POINT, up 0.03 [1] - Euro - US dollar latest is 104.23, down 0.00 [1] - Pound - US dollar latest is 1.08, up 0.00 [1] - US dollar - Japanese yen latest is 1.29, down 0.36 [1] - US 10 - year TIPS latest is 1.84, down 0.01 [1] 3.3 Precious Metal ETF and Inventory Information - Gold ETF latest holding is 931.37, down 7.77 [1] - Silver ETF latest holding is 13933.37, down 2.01 [1] - COMEX silver latest inventory is 1678.55, down 11.32 [1] - Shanghai Gold Exchange gold latest inventory is 1166.93, down 1.00 [1] - Shanghai Futures Exchange silver latest inventory data shows certain changes [1] 3.4 Ratio Information - Ratios such as gold - platinum ratio, platinum - palladium ratio, COMEX gold - silver ratio, gold - oil ratio, gold - copper ratio, gold internal - external ratio, and silver internal - external ratio are presented with historical trend charts [1] 3.5 Basis Yield and Other Information - Shanghai gold and silver futures主力 contracts' basis yields and their relationships with inventory and other factors are shown through charts [1] 3.6 Position and Delivery Information - Shanghai Gold Exchange gold and silver spot positions and delivery volumes for Au(T + D) and Ag(T + D) are presented with historical data [1] 3.7 Deferred Fee Direction - Shanghai Gold Exchange gold and silver deferred fee payment directions are shown with historical trends [1]