China’s 10-Billion-Yuan Commodity Futures Contracts Rise to 16 as Precious Metals Attract Most Capital

The headline figure is breadth, but the detail is concentration: capital is clustering in precious metals rather than spreading evenly across the commodity complex. That matters because futures open interest is a positioning signal, and the funds settling into Shanghai gold suggest domestic participants are treating it as the venue of choice for macro hedging. The open question is whether that metals-led build persists or rotates into industrial contracts as broader demand signals shift.