RE:RE:Kamoa-Kakula´s phase 1 copper has already been soldI see your point.
From what I know, China has not YET released any reserves - they have only indicated they PLAN on it. There have yet to be any indications as to quantity OR where they will release them to.
Given what I know of China, it would really make me wonder (as you) what the long term plan would be if they release onto the global market. Seems counter-intuative. They have about 2 months (est) of reserve (based on CHINA ONLY monthly usage). Release to the public market would lower price short term, deplete their reserves, and then we are back to square one.
I would have thought it would make more sense for them to sell their reserves to their China based consumers - say, subsidize them as a way to keep costs locally a tad lower. Reserves then last longer and the rest of the world still does what it does.
Maybe I am thinking backwards...