CME与LME竞逐香港铝期货枢纽：亚洲市场重构全球定价格局

基础金属	铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁
稀有金属	稀土稀土矿稀土氧化物稀土金属钕铁硼稀散金属锑铋铟锗镓硒钽锆贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒
新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

基础金属

铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁

稀有金属

稀土稀土矿稀土氧化物稀土金属钕铁硼 稀散金属锑铋铟锗镓硒钽锆 贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒

新能源

锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰 锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

CME与LME竞逐香港铝期货枢纽：亚洲市场重构全球定价格局

2025-05-22 10:49:38 来源：北方有色网责任编辑：管理员

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芝商所（CME）正就设立香港仓库展开磋商，拟将其纳入铝期货合约实物交割网络，此举是对竞争对手伦敦金属交易所2025年1月将香港纳入全球仓库网络这一先发布局的战略回应。香港作为国际金融中心，凭借毗邻华南金属消费区的区位优势、自由港政策及高效物流基建，能显著降低亚洲客户的交割物流成本，且依托政府推动的大宗商品生态圈，具备成为区域交割枢纽的制度条件，加之亚洲占全球近半的铝消费需求，布局香港可贴近终端市场提升合约流动性。若成行，CME不仅能通过缩短交割距离吸引更多亚洲产业客户与投资者，增强在铝期货领域的定价话语权，还将与LME在交割效率、仓储服务等方面形成直接竞争，推动双方差异化创新，同时借助香港“超级联系人”角色促进内地现货与国际期货市场衔接，降低贸易成本并提升中国金属产业参与度。不过，CME也面临香港土地稀缺导致的仓储成本高、容量有限等资源限制，以及LME已积累的运营经验和客户粘性带来的后发劣势压力，需在符合香港严格金融监管框架的同时应对地缘政治及贸易政策变化的不确定性。总体而言，布局香港是CME深耕亚洲市场的关键举措，尽管存在挑战，但其区位价值与市场需求使其成为必争之地，随着双雄竞争深化，香港有望成为亚洲金属期货核心枢纽，推动全球定价重心向消费地转移。

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CME与LME竞逐香港铝期货枢纽：亚洲市场重构全球定价格局

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