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China to auction copper, aluminium and zinc from state metal reserves in bid to curb soaring commodity prices

China’s state reserves administration on Tuesday said it would publicly auction a total of 100,000 tonnes of non-ferrous metals early next month in the first round of a rare and highly anticipated release of its stockpiles.The National Food and Strategic Reserves Administration said in three separate notices it would auction 20,000 tonnes of copper, 30,000 tonnes of zinc and 50,000 tonnes of aluminium on July 5 and July 6.The amount of zinc being sold is equivalent to 5.7 per cent of monthly…

Read the original article at South China Morning Post

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