China mulls establishment of state reserve for Cu
China mulls establishment of state reserve for some metals
Metal Bulletin
June 12, 2012
China is reportedly considering setting up state reserves for some important products, including copper, tungsten and rare earth metals.
The government is also considering similar management measures for other metals, according to a Reuters report.
Market participants are suggesting that minor metals such as antimony and molybdenum could also be stockpiled, although there are no details about how large state reserves would be
The report came after Chinese local media announced earlier this month that the government is considering setting up state reserves for rare earths in order to stabilise prices.
Earlier this year, another report claimed that the Chinese government may plan to set up state reserves for minor metals, as part of efforts to protect strategic metal resources.
The country’s five-year plan for the non-ferrous metals industry suggests establishing a “complete state reserve for strategic minor metals”, including tungsten, molybdenum, tin, antimony and rare earths.