With China easing from the Covid-19 lockdown earlier this year, economic activities such as trading of commodities have recovered in tandem. As such, China’s move to be a more significant benchmark for the international pricing of commodities continues.

Over the past two years, China has opened up the trade of its RMB-denominated commodities futures to traders outside China, and industry players are seeing growing traction.

Starting with medium sour crude oil futures from the Shanghai International Energy Exchange (INE) in March 2018, China has since opened iron ore, purified terephthalic acid (PTA), rubber and low-sulphur fuel oil futures to international investors, in that order.

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