China’s earlier moves to open up commodities futures have had only limited results. Shanghai International Energy Exchange, a unit of SHFE, has offered yuan-denominated copper contracts to overseas investors since 2020, and crude oil contract since 2018, but neither has made much of a dent in the dominance of international bourses. The Dalian Commodity Exchange let foreigners invest in iron ore futures in 2018, a move that’s had a bit more success.