China to release more metal reserves to ease supply shortage

China will closely monitor market conditions and continue to release copper, aluminium and zinc from its state reserves in a bid to overcome supply-demand imbalances.

“Currently, copper, aluminium and zinc prices are still high,” said Li Hui, an official with the National Development and Reform Commission, adding that the authority will guide prices to reasonable levels.

The world’s top metals consumer has released 420,000 tonnes of metals in three lots so far this year through public auctions at prices “slightly below market”.