Group 1 - The China Securities Regulatory Commission (CSRC) has approved the registration of futures and options for casting aluminum alloy on the Shanghai Futures Exchange, aiming for a smooth launch and robust operation [1] - Casting aluminum alloy, primarily produced from recycled aluminum, is a key product for the low-carbon transition in the global aluminum industry and is widely used in various sectors including automotive, machinery, and electronics [1] - China is the largest producer and consumer of casting aluminum alloy globally, with an estimated production capacity of 13 million tons and a production volume of 6.2 million tons in 2024 [1] Group 2 - The listing of casting aluminum alloy futures and options is expected to provide effective risk management tools and transparent price signals for industry participants, promoting the standardized development of the market [1] - Companies like Guangdong Hongjin New Materials Group express a strong interest in utilizing the new futures for hedging against price volatility, as the current lack of recycled aluminum futures limits their options [2] - The introduction of these futures is anticipated to enhance the pricing mechanism in the current spot market, which lacks a unified and effective pricing system, thereby improving price transparency and fairness [2]

Report Summary 1. Industry Investment Rating - No information about the industry investment rating is provided in the report. 2. Core Viewpoints - The Shanghai Futures Exchange is actively promoting the listing of green - low - carbon and recycled metal futures and options such as cast aluminum alloy to serve the risk management and circular development needs of the aluminum industry [2]. - In the first four months of this year, the national actual use of foreign capital decreased by 10.9% year - on - year, while Japan, Switzerland, the UK, ASEAN, South Korea, and Germany had year - on - year growth in actual investment in China [2]. - The EU is considering removing 20 banks from the SWIFT system, lowering the price cap of Russian oil to about $45 per barrel, and banning the construction of the Nord Stream gas pipeline [2]. - Malaysia's palm oil production from May 1 - 20, 2025, is estimated to increase by 3.51%, with different trends in different regions [3]. 3. Summary by Relevant Content Hot News - The Shanghai Futures Exchange will strengthen the coordination between futures and spot markets and promote the listing of new futures and options [2]. - The national actual use of foreign capital in the first four months of this year was 320.78 billion yuan, a 10.9% year - on - year decrease, with some countries showing growth [2]. - The EU is planning new sanctions against Russia in the financial and energy sectors [2]. - The inventory of imported iron ore in Chinese ports decreased, and the daily port clearance volume increased [2]. - Malaysia's palm oil production in May 1 - 20 had an overall increase [3]. Plate Performance - Key commodities to focus on include urea, lithium carbonate, Shanghai copper, crude oil, and hot - rolled coils [4]. - Night - session performance: Non - metallic building materials rose 2.76%, precious metals 30.83%, oilseeds 11.75%, soft commodities 2.46%, non - ferrous metals 18.77%, coal - coking - steel - ore 13.34%, energy 2.67%, chemicals 13.05%, grains 1.63%, and agricultural and sideline products 2.73% [4]. Plate Position - The report shows the position changes of commodity futures plates in the past five days [5]. Performance of Major Asset Classes - Equity: The Shanghai Composite Index fell 0.94%, the S&P 500 fell 0.67%, and the Hang Seng Index rose 0.24% [6]. - Fixed - income: 10 - year Treasury bond futures rose 0.04%, 5 - year Treasury bond futures rose 0.07%, and 2 - year Treasury bond futures rose 0.04% [6]. - Commodities: The CRB commodity index rose 0.13%, WTI crude oil rose 1.27%, and London spot gold rose 1.91% [6]. - Others: The US dollar index fell 0.82%, and the CBOE volatility index rose 9.91% [6].

Group 1 - The China Securities Regulatory Commission (CSRC) has approved the registration of aluminum alloy futures and options on the Shanghai Futures Exchange [1] - The CSRC will supervise the Shanghai Futures Exchange to ensure the smooth launch and stable operation of aluminum alloy futures and options [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has approved the registration of aluminum alloy futures and options on the Shanghai Futures Exchange, indicating a significant development in the commodities market [1] Group 1 - The CSRC will supervise the Shanghai Futures Exchange to ensure the smooth launch and stable operation of aluminum alloy futures and options [1]

Core Insights - The Shanghai Futures Market has experienced significant growth, with its scale increasing 2.7 times from 2017 to 2024, reaching 425 trillion yuan, and is becoming a global pricing reference for trade [1][2] - The development of the futures market is aligned with China's modernization goals and aims to enhance risk management for enterprises while promoting high-quality development [2][3] Group 1: Market Growth and Development - The Shanghai Futures Market has attracted global industry players and financial institutions, contributing to the construction of a financial hub [2] - The market has listed 47 futures and options products, covering key sectors such as metals, energy, and finance, enhancing its role in risk management for various industries [2][4] - The trading volume of Shanghai's financial market exceeded 365 trillion yuan in 2024, with the futures market being a crucial component [4] Group 2: Regulatory and Strategic Initiatives - The China Securities Regulatory Commission emphasizes the importance of the futures market in supporting the real economy and enhancing financial stability [3] - Ongoing development of the Sci-Tech 50 index futures and options is aimed at better serving high-level technological enterprises [2][3] Group 3: Market Functionality and Impact - Financial futures are playing a stabilizing role in the market, with stock index futures helping to increase the value of hedged stocks by 14% from November 2023 to April 2024 [5][6] - The introduction of new products and adjustments in trading mechanisms have improved market quality, with daily trading volumes for financial futures and options increasing significantly [7] - Institutional participation in financial futures has grown, with a notable increase in the average daily positions held by institutions, enhancing overall market performance [7] Group 4: Future Prospects and Innovations - The Shanghai Futures Exchange plans to launch futures and options for aluminum alloy, further expanding the global influence of "Shanghai prices" [8] - The exchange is actively increasing the number of products available to qualified foreign investors, enhancing international collaboration [8]