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1105-2023
The world's largest pulp producer: considering exporting to China in RMB
Suzano SA, the world's largest maker of hardwood pulp, is considering selling its products to China in yuan, in a further sign that the dollar is losing its dominance of commodities markets. Walter Schalka, chief executive of Suzano SA, said in an interview on Monday that the yuan was becoming increasingly important and that some Chinese customers were also willing to use the currency to trade. While the dollar still dominates global trade settlement, the shift to the renminbi in commodity contracts ranging from oil to nickel is accelerating.