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China to sell more metals from reserves to ensure stable prices

Section: Daily Dispatches

From Bloomberg News
Wednesday, July 7, 2021

China, the world's top commodities consumer, pledged to release more base metals from its state reserves after completing a first batch of sales in its latest effort to rein in surging raw material costs.

More sales will be arranged in the near term to ensure market stability, the National Food and Strategic Reserves Administration said in a statement on its website today.

... Dispatch continues below ...


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The first release of metals in over a decade included 20,000 tons of copper, 30,000 tons of zinc, and 50,000 tons of aluminum and was concluded via a public auction conducted Monday. The reserves agency didn't reveal the prices at which the metals were sold. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2021-07-07/china-to-sell-more-metals-from-reserves-to-ensure-stable-prices

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