China will encourage listing of leading futures firms, to issue futures law

Acrimony has intensified since Washington last week blacklisted Chinese telecom equipment company Huawei Technologies Co Ltd.

The fortunes of two commodities are beholden to China, the world's biggest importer and user of both iron ore and copper.

Recent blazes involving Tesla Inc. and NIO Inc. cars in Greater China are prompting the industry to take steps to alleviate concerns from potential customers.

Although most of the precious metals sector has trended lower in recent months, gold has held up well.

The metal touted for its environmental benefits, particularly in the manufacture of lighter cars and trucks, has a big problem with storing its toxic by-products.

The Dubai Multi Commodities Centre and the China Gems and Jade Exchange signed a memorandum of understanding to create new trading opportunities.

Near 17% decline in Chinese car sales in April – the 11th monthly drop in a row – compounds impact of Washington-Beijing trade salvoes.

Prices of 65% iron-content ore for delivery to China hit a five-year-peak of $110.5 a tonne on Thursday, while its premium to benchmark 62% ore widened to five-month highs.

Specialist materials firm Johnson Matthey forecast a 127,000-ounce platinum shortfall this year, after surpluses of 372,000 and 44,000 ounces in 2018 and 2017 respectively.