(Bloomberg Opinion) — China’s next move to open up its commodities markets may be a step change.As of Thursday, overseas investors will be able to trade copper futures on the Shanghai International Energy Exchange. It’s not the first such product: A yuan-denominated crude oil contract, launched in March 2018, has been modestly successful. A subsequent push to let foreigners trade iron ore in Dalian established a global benchmark. Copper could outshine these efforts, thanks to fortuitous timing, global appetite for an economic bellwether and the sheer clout of the world’s largest consumer.The ambition is clear. Beijing wants increased pricing power …read more
Source:: Yahoo Finance
