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China confirms that it will put copper, aluminum and zinc stocks on the market to curb price increases

 Last Update: 2021-09-09
 Source: Internet
 Author: User

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News from June 16th: On Wednesday, the Chinese government announced that it will put the national reserve of industrial metal stocks on the market to curb the rise in commodity prices

The State Administration of Grain and Material Reserves of China stated on its website that a public auction will be held in the near future to release copper, aluminum and zinc stocks to non-ferrous processing and manufacturing companies in batches

Last week, the ex-factory prices of Chinese factory products hit a record high in more than 12 years

On May 10, the price of copper futures in London hit a record high of US$1,0747.

According to a research report issued by Citi on Monday, the market had previously speculated that the government would curb the rise in commodity prices by managing market expectations and curbing speculation in commodity futures

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