According to the U.S. Commodity Futures Trading Commission (CFTC), as of the week ending December 23, COMEX copper speculators increased their net long positions by 9 contracts to 75,996 contracts.

According to CCTV: Li Qiang chaired an executive meeting of the State Council, which reviewed and approved the "Water Supply Regulations (Draft)" and the "Implementation Regulations of the Drug Administration Law of the People's Republic of China (Revised Draft)".

Domestic News: 1. The Ministry of Housing and Urban-Rural Development issued the "Opinions on Improving Housing Quality." 2. The State Financial Supervision and Administration Bureau issued the "Administrative Measures for Merger and Acquisition Loans of Commercial Banks." 3. The Shenzhen Stock Exchange publicly solicited opinions on revising the "Stock Listing Rules" and other business rules. 4. The National Development and Reform Commission and another department issued guiding opinions on promoting the high-quality development of the power grid. 5. The State Intellectual Property Office and the Ministry of Industry and Information Technology issued opinions on further strengthening intellectual property protection in the photovoltaic industry. 6. The Ministry of Commerce decided to take safeguard measures against imported beef in the form of "country-specific quotas and additional tariffs on quotas beyond the quota." 7. The China Securities Regulatory Commission issued the "Announcement on Launching a Pilot Program for Commercial Real Estate Investment Trusts." 8. ICBC and ABC: Starting January 1, 2026, interest will be paid on the balance of digital RMB real-name wallets. 9. Li Qiang chaired an executive meeting of the State Council, deploying policies and measures for replicating and promoting the special action to facilitate cross-border trade. 10. Ministry of Commerce: Starting January 1, 2026, subsidies will not exceed 1,500 yuan per household appliance and 500 yuan per digital and smart product. 11. China Securities Regulatory Commission (CSRC) revised and issued the "Regulations on the Management of Sales Expenses of Publicly Offered Securities Investment Funds": subscription and purchase fees for publicly offered funds will be reasonably reduced. 12. Shanghai Stock Exchange issued the "Trial Measures for Publicly Offered Real Estate Investment Trusts (REITs)": initial listing fees, annual listing fees, and transaction handling fees for real estate funds will be temporarily waived. 13. The Hang Seng Index is projected to rise 27.77% in 2025, its best performance since 2017; the Hang Seng Tech Index is projected to rise 23.45%, its best performance ever. 14. The Shanghai Composite Index is projected to rise 18.41% in 2025, its best performance since 2019; the Shenzhen Component Index is projected to rise 29.87%, and the ChiNext Index is projected to rise 49.57%, both best performances since 2020. International News: 1. The CME Group raised margin requirements for precious metal futures twice within a week, causing a sharp drop in precious metal prices. 2. Warren Buffett officially retired as CEO of Berkshire Hathaway. 3. Turkey announced visa-free entry for Chinese citizens holding ordinary passports. 4. Spot gold is projected to surge approximately 64% in 2025, silver 147%, platinum 128%, and palladium 77%. 5. US crude oil futures are projected to fall nearly 20% in 2025, while Brent crude futures are projected to fall over 18%. 6. LME copper is projected to rise nearly 42% in 2025, marking its largest annual gain in 16 years. 7. The Dow Jones Industrial Average is projected to rise 12.97% in 2025, the S&P 500 16.39%, and the Nasdaq 20.36%, all reaching new highs for the third consecutive year. 8. The United States announced sanctions against four companies involved in Venezuelan oil trade and placed four related oil tankers on a frozen asset list. 9. Initial jobless claims in the United States for the week ending December 27 were 199,000, lower than expected and the lowest since the week ending November 29.