China Likely to Suspend the Policy on Storage of Nonferrous Metals Through Local Gov.

Recently, the Ministry of Industry and Information Technology has evaluated the situation 3 years after implementation of Nonferrous Metals Industry Restructuring and Revitalization Plan.

According to the evaluation results, in consideration of the high prices of nonferrous metals products and favorable fulfillment of the task of keeping a steady growth of the nonferrous metals industry, the policy on storage of nonferrous metals shall be suspended. Nonferrous metals storage organizations are even allowed to undersell nonferrous metals in storage to keep down the current excessive speculation of the nonferrous metals market, and the profits may be used to meet the requirements of storage in the future.