Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News
Whatsapp

China to Release 50,000 Tonnes of Aluminum From Its National Reserves

IANS
IANS
Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

China will release 50,000 tonnes of aluminum from its national reserves amid efforts to ease commodity price hikes and cost pressure on firms.

Open bidding of the first batch of aluminum will start on July 5 at the website https://www.norincogroup-ebuy.com, the National Food and Strategic Reserves Administration said on Tuesday in a statement.

Only aluminum processing and manufacturing enterprises will be eligible to bid, and the purchased aluminum shall be used for production promptly. It shall not be resold or hoarded, said the Xinhua news agency’s administration.

China will further release its state reserves of copper, aluminum, and zinc to ensure stable commodity prices, the country’s top economic planner, the National Development and Reform Commission, said earlier this month.

The commission said it would work with other departments to release the nonferrous metal reserves in multiple batches as needed in light of market price changes.

Join 10,000+ Fellow Readers

Get Techgenyz’s roundup delivered to your inbox curated with the most important for you that keeps you updated about the future tech, mobile, space, gaming, business and more.

Recomended

Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic