China to Stabilize Metals Prices by Releasing Reserves

June 24, 2021 11:35:22

Earlier last week China revealed its plans to hold an auction for industrial metals from its national reserves in an attempt to control commodity prices. The country’s National Food and Strategic Reserves Administration stated on its website that it would be releasing zinc, aluminum and copper to manufacturing and processing firms in the coming weeks.

This notice comes at a time when Beijing is struggling to control a surge in the prices of different metals that was brought about by speculative buying; the surge has affected manufacturers’ margins, adequate global liquidity and post-pandemic economic recovery…

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