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On September 16, at the September press conference held by the National Development and Reform Commission, some media asked the National Development and Reform Commission and the Reserve Bureau recently placed copper, aluminum, zinc and other bulk commodities several times, how effective is the implementation so far? What other considerations are there for the next placement?
In response, Li Hui, deputy director of the National Development and Reform Commission, said that in accordance with the State Council executive meeting on the supply of bulk commodities to do a good job of stabilizing the price of the deployment, in order to alleviate the pressure on the cost of raw materials, play the role of the reserve market regulation, the National Food and Material Reserve Board on September 1 put the third batch of national reserves of copper, aluminum and zinc, a total of 150,000 tons, so far, three batches of copper, aluminum and zinc 420,000 tons of cumulative investment.
Li Hui said that all parties in the market reflected enthusiastically on the placement of reserves, that stabilized market expectations, and to a certain extent, eased the momentum of copper, aluminum and zinc prices, demonstrating the determination of the state to carry out market regulation of bulk commodities; through the network of open bidding and related rules design, the majority of small and medium-sized processing and manufacturing enterprises can fully participate and purchase raw materials at prices slightly lower than the market level, effectively gaining benefits. In the second and third batch put, Henan and other seriously affected areas downstream processing enterprises deal accounted for a considerable proportion of the impact of the disaster also helped to relieve the impact.
Li Hui said, at present, copper, aluminum and zinc prices are still maintaining a high level of operation, industry enterprises have strong expectations for the supply of bulk commodities to stabilize prices. The next step, the National Development and Reform Commission will closely track and monitor market price trends, changes in the supply and demand situation, and continue to put national reserves into the market to ease the contradiction between supply and demand in the industry and guide the price to return to a reasonable level.
Translated with www.DeepL.com/Translator (free version)
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