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China to release 90,000 tonnes of aluminium in the second batch on July 29

EDITED BY : 1MINS READ

According to a recent report, China National Food and Strategic Reserves Administration will release 90,000 tonnes of aluminium from state reserves in the second batch on July 29. Companies can apply for the bidding during July 21-26.

China to release 90,000 tonnes of aluminium in the second batch on July 29

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This news followed the National Development and Reform Commission’s (NDRC) statement on July 19 that China would continue to release aluminium from state reserves to lower the metal price.

In the first batch scheduled on July 5-6, China sold 50,000 tonnes of aluminium. According to a report, the country took only one of two days allotted for the auction to sell the aluminium that was on offer.

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The aluminium was split into around 200 lots. The auction of the last lot of 250 tonnes took place at 7:52 pm on July 5, showed a notice on the bidding platform operated by state-owned Norinco.


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EDITED BY : 1MINS READ

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