China would further release its state reserves of copper, aluminum and zinc to ensure stable prices of commodities and ease cost pressure on firms, the country’s top economic planner said on Thursday.
The National Development and Reform Commission spokesperson, Meng Wei, said they would work with other departments to release the nonferrous metals reserves in multiple batches as needed in light of market price changes.
The National Food and Strategic Reserves Administration on Wednesday announced that it would release national reserves of copper, aluminum and zinc via public bidding.
Wei said the release would be open to nonferrous metal processing and manufacturing enterprises, small and medium-sized enterprises would be favoured in the bidding.
The commission has taken various measures to rein in market speculations and correct the overly high commodity prices, the price declines have been seen in commodities including iron ore, steel and copper. (Xinhua/NAN)
