Business
China makes first step towards taking control of world copper market – Small Caps
China has rolled out a yuan-denominated copper futures contract open to foreign traders — a move that is being seen as an attempt to prise open the London Metal…
China has rolled out a yuan-denominated copper futures contract open to foreign traders a move that is being seen as an attempt to prise open the London Metal Exchanges (LME) domination of trading in the red metal.
It is also a clear signal that China is pushing ahead with plans for full internationalisation of the yuan.
The new futures contract began trading on Thursday (19 November).
Beijing wants to be a price-maker, not a price-taker, especially when it is largely dependent on imports for any…
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