In just 40 years, China has grown to become the world's largest buyer of a wide number of commodities — from soybeans to copper.
Demand for raw materials like copper and steel have been largely driven by the country's manufacturing and construction boom, as well as by the needs of its 1.4 billion population.
China's soybean consumption has grown more than 12 times in the last 40 years or so. As a percentage of world demand, China now accounts for 30% of global consumption in soybeans. The oilseed is used to make cooking oil and animal feed.The red metal is used for a wide range of applications in engineering and construction, and is often viewed as a reliable indicator of global economic health.
The Asia Pacific Exchange is China's first offshore exchange. Launched in Singapore last year, it offers new commodities futures contracts in fuel oil and palm olein — or the liquid component of palm oil — that can be physically settled.at the launch last year that the bourse aims to provide better price discovery so that the Chinese can become price setters instead of price-takers for various commodities.
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