China’s Commodities Demand Faces Another Headwind in Weaker Yuan
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Commodities in China dropped as a surge in the dollar heaped pressure on markets already plagued by concerns over Chinese growth.
Tin led losses among base metals traded in Shanghai, with copper also falling sharply by the midday break. Crude tracked international markets lower. Producer stocks also fell, with the nation’s biggest listed oil company, PetroChina Co., and aluminum giant China Hongqiao Group hitting their lows for the year in Hong Kong.