好家伙！伦敦金属交易所（LME）一纸公告，直接把金融圈炸开了锅！从11月10日起，所有非美元计价的金属期权交易被按下了暂停键，人民币更是首当 其冲被"请"了出去。最让人瞠目的是，官方甩出的理由竟然是"流动性不足、交易量太小"？ 前言 美元霸权暗流汹涌 把这事件放到聚光灯下细看，你会发现它绝非孤例，几乎在同一时间，另外两出大戏也正同步上演。 美国高调宣布12月将启动新一轮量化宽松，说白了，就是开动印钞机，让美元如潮水般涌向市场。另一边，由G7牵头，悄咪咪地拉拢了10个国家，组建了 一个所谓的"关键矿产联盟"，却唯独将中国排除在外。 这三件事如同三颗棋子，精准地落在同一盘棋局上。明眼人一看便知，这是一场针对人民币定价权的"围猎行动"，而幕后的策划者，矛头直指美国。全球金 属定价权的争夺，早已从暗流涌动，升级为摆在台面上的硬碰硬较量！ 这理由，数据第一个不服！2024年初，光是铜的人民币计价日交易量就达到了35.7万手，到了2025年上半年，这个数字更是火箭般蹿升到48.2万手。这哪里 是"没流动性"？分明是热得发烫，交易活跃度一路高歌猛进！ 更耐人寻味的是，LME看似披着"英国外衣"，骨子里却是香港交易所的亲儿子 ...

Core Viewpoint - The London Metal Exchange (LME) is taking measures to restrict non-USD metal options trading starting November 10, 2025, due to concerns over the increasing influence of other currencies, particularly the Chinese yuan, in global commodity transactions [1][3]. Group 1: Market Stability and Regulatory Actions - The LME's decision to halt non-USD trading is framed as a move to stabilize the market, but it is widely understood to be a reaction to the growing use of the yuan in commodity pricing and settlement [3][4]. - The LME's actions are reminiscent of past market disruptions, such as the nickel market crisis caused by sanctions on Russia, which led to a temporary trading suspension and regulatory penalties [3]. Group 2: Impact of Currency on Commodity Trading - By 2024, 14.2% of global commodity transactions are expected to be settled in yuan, indicating a significant shift away from USD dominance [3]. - The LME's measures are seen as an attempt to maintain the USD's leading position in the face of increasing yuan adoption by global traders and manufacturers [3][4]. Group 3: Comparison with Other Exchanges - Other exchanges, such as the Shanghai Futures Exchange, Singapore SGX, and Dubai DXB, have adopted more flexible approaches, allowing the market to self-regulate rather than imposing strict trading restrictions [4]. - The LME's rigid approach is criticized as being out of touch with market dynamics, contrasting with the more adaptive strategies employed by other exchanges during past market fluctuations [4].