China to Sell More Metals From Reserves to Ensure Stable Prices
- Nation has completed sales of 100,000 tons in its first batch
- Reserves agency didn’t reveal prices at which metal was sold
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China, the world’s top commodities consumer, pledged to release more base metals from its state reserves after completing a first batch of sales in its latest effort to rein in surging raw material costs.
More sales will be arranged in the near term to ensure market stability, the National Food and Strategic Reserves Administration said in a statement on its website Wednesday.