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Xinhua Silk Road
Economy

China to release more state metal reserves

July 22, 2021


Abstract : China's top economic planner and the state reserves authority said Wednesday that the country will release another batch of national reserves including copper, aluminum and zinc.

A worker gets copper solution for conducting pouring work at the Botou Safety Tools company in Botou City, north China's Hebei Province, May 20, 2021. (Xinhua/Jin Haoyuan)

BEIJING, July 21 (Xinhua) -- China's top economic planner and the state reserves authority said Wednesday that the country will release another batch of national reserves including copper, aluminum and zinc.

Some 30,000 tonnes of copper, 90,000 tonnes of aluminum and 50,000 tonnes of zinc will be released from the national reserves in late July, according to the National Development and Reform Commission and the National Food and Strategic Reserves Administration.

China's national reserves are abundant, and it is capable of cooling the market, said Xu Gaopeng, an official with the administration.

Since the beginning of this year, the prices of bulk commodities have surged due to factors including the overseas spreading of COVID-19 and the imbalances of supply and demand, causing pressures to medium and small firms.

To maintain market order, China released 100,000 tonnes of copper, aluminum and zinc from its national reserves on July 5. Enditem

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Keyword: metal reserves

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