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Shanghai takes command in metals trading

Over the summer the surge of Chinese retail investors into equities alarmed global markets. Now the same is happening in commodities, as metals become a favourite tool to bet on a slowing Chinese economy.

Investment funds in China have piled into trading on the Shanghai Futures Exchange this month, sending global prices for copper down to a six-year low and nickel to a 10-year low.

The price moves highlight China’s influence on global metals prices as

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