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China Commodity Prices to Have Global Impact
Jul 6,2012 14:32CST
industry news
Source:SMM
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.

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.

China commodity market

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