World’s Biggest Pulp Producer Considers Trading With China in Yuan
- Brazil’s Suzano sees US dollar losing relevance in commodities
- Buyers are requiring yuan deals, CEO Schalka says in interview
Suzano SA, the biggest producer of hardwood pulp, is considering selling its products to China priced in yuan, adding to signs that the dollar is losing its dominance in commodity markets.
China’s currency is growing in importance and smaller customers there are requiring deals linked to the renminbi, Suzano Chief Executive Office Walter Schalka said in an interview from Bloomberg’s New York headquarters. China is the largest commodity buyer and accounts for 43% of Suzano’s pulp.