Yangshan positions itself as commodities trading hub

The nation's first physical price for a commodity that sits in a bonded area debuted in the Yangshan deep-water port of Shanghai on Wednesday, on the same day as its first product, the "Yangshan copper premium", was listed on third-party data platforms.

Experts said the developments may help domestic commodity traders vie for a bigger say in global pricing decisions.

The Yangshan copper premium - which is paid on top of the benchmark London Metal Exchange cash copper price - is the first of a series of commodity prices to be launched under the "Yangshan Price" banner, which are being designed by the Shanghai Free Trade Zones to develop the Yangshan bonded area into a bulk commodity trading platform.