China Commodity Prices to Have Global Impact-Shanghai Metals Market

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China Commodity Prices to Have Global Impact

Industry News 02:32:40PM Jul 06, 2012 Source:SMM

Jul. 6 - Commodity markets in China, the largest user of copper and iron ore, will increasingly set global benchmarks as financial markets are opened to overseas investors, Australia & New Zealand Banking Group Ltd said.

"Greater access will make domestically generated prices more influential," the bank said in a report as it introduced a commodity index based on consumption patterns in China. Having markets that are more open "will accelerate the shift from a follower of international prices toward setting global benchmarks", ANZ said.

Key Words:  China commodity market 

Price

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SMM #1 Nickel
Dec.10
108800.0
-1250.0
(-1.14%)
#1 JinChuan Nickel
Dec.10
110900.0
-1250.0
(-1.11%)
#1 Import Nickel
Dec.10
106650.0
-1300.0
(-1.20%)
JinChuan B&C
Dec.10
8900.0
500.0
(5.95%)
Russian Nickel Premium
Dec.10
4650.0
450.0
(10.71%)

China Commodity Prices to Have Global Impact

Industry News 02:32:40PM Jul 06, 2012 Source:SMM

Jul. 6 - Commodity markets in China, the largest user of copper and iron ore, will increasingly set global benchmarks as financial markets are opened to overseas investors, Australia & New Zealand Banking Group Ltd said.

"Greater access will make domestically generated prices more influential," the bank said in a report as it introduced a commodity index based on consumption patterns in China. Having markets that are more open "will accelerate the shift from a follower of international prices toward setting global benchmarks", ANZ said.

Key Words:  China commodity market