Global EditionASIA 中文双语Français
Home / China / Society

China releases 150,000 tonnes of national metal reserves

Xinhua | Updated: 2021-10-09 22:13
Share - WeChat

BEIJING -- China's state reserves authority on Wednesday released a total of 150,000 tonnes of copper, aluminum, and zinc from the national reserves to alleviate burdens on businesses over rising raw material costs.

The National Food and Strategic Reserves Administration said it would step up monitoring of commodity prices and organize follow-up releases of national reserves.

This is the third batch of releases to the market. Previously, China has released a total of 270,000 tonnes of copper, aluminum, and zinc to maintain market order.

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

Earlier official data showed China's producer price index (PPI), which measures costs for goods at the factory gate, expanded by 9 percent year on year in July, slightly higher than the 8.8 percent growth in June.

Sharp price hikes in crude oil and coal lifted year-on-year PPI growth in July. However, month-on-month data showed that government policies to stabilize commodity prices took effect, with mild price declines seen in industries like steel and non-ferrous metals, the National Bureau of Statistics said.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349