Vietstock – China is about to release 150,000 tons of copper, aluminum and zinc from national reserves

China announced plans to release 150,000 tons of copper, aluminum and zinc from national reserves to ensure price stability and supply of key commodities, according to China’s national reserve regulator.

China’s National Strategic and Food Reserve Administration (NFSRA) said it would release 30,000 tons of copper, 70,000 tons of aluminum and 50,000 tons of zinc from national reserves on October 9. This is China’s fourth release of reserves this year.

According to NFSRA, this release of reserves will help relieve pressure on raw material prices for processing and manufacturing enterprises, and at the same time increase supply in the market.

The agency said it will closely monitor developments in the market and continue to use national reserves to fill the gap between supply and demand for metals.

As of June 2021. China has released 3 rounds of copper, aluminum and zinc reserves with a total volume of up to 420,000 tons, with the goal of increasing supply in the market, restraining metal prices for businesses and counteracting the impact from Covid-19 and flooding in some parts of China.

(According to China’s Daily)

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