China’s National Bureau of Statistics (NBS) said that global commodity prices will remain high in the short term and the country will continue to take measures to secure supply and stabilize prices.

According to NBS spokesman Fu Linghui, three main factors will keep commodity prices high.
“The first factor is that the world economy is recovering, causing increased demand for goods; the second is that the main raw material supply from the main producing countries is getting tighter due to the negative impact of the Covid-19 pandemic along with other factors, including increased freight rates; and the third factor is quantitative easing and fiscal stimulus measures in the major economies of the world, which will keep commodity prices high, and will increase even more.
According to spokesman Fu Linghui, China will continue to take measures to ensure the supply of goods and keep prices stable, in order to support small and micro-importing enterprises in the context of production costs. get a raise.
This is in line with the country’s decision in June to sell key raw materials from the Government’s stockpile – including copper, aluminum and zinc – to downstream producers in an effort to contribute to cooling. “unreasonable” price increases in the commodity market.

China increased the volume of copper, aluminum and zinc it sold from its stockpile, and it all sold out quickly.

Source: VITIC / metalbulletin

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