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
Aug.21
123800.0
-1150.0
(-0.92%)
#1 JinChuan Nickel
Aug.21
124450.0
-1100.0
(-0.88%)
#1 Import Nickel
Aug.21
123175.0
-1175.0
(-0.94%)
JinChuan B&C
Aug.21
1350.0
0.0
(0.00%)
Russian nickel premium
Aug.21
100.0
-25.0
(-20.00%)

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