China to release copper, aluminium and zinc to curb soaring prices, to issue new rules on commodity price indexes

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China’s top economic planner said on Thursday it would release state reserves of non-ferrous metals to curb surging prices, while saying there is room for further increases in steel demand in the future.

One day earlier, China’s National Food and Strategic Reserves Administration said it will release reserves of copper, aluminium and zinc to non-ferrous downstream processing and manufacturing companies through public bidding, without specifying exact amounts.

China last sold copper from its state reserves in 2005 and released aluminium and zinc in 2010 to stabilise the prices.