China’s National Food and Strategic Reserves Administration said on Wednesday it would continue to release stocks in the near future after completing the auction of 100,000 tonnes of copper, aluminium and zinc on July 5.
The first round of metal auctions, which needed only one of two allotted days to conclude, was carried out to ease raw material cost pressure on businesses, the administration said in a brief statement on its website.
Source: Reuters (Reporting by Beijing Newsroom; writing by Tom Daly; Editing by Andrew Heavens)