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Li Yang said that the two previous operations were December 2008 and February 2009 respectively. The selected metal object is the aluminum ingot shape of the primary aluminum. The standard is that the content of the morphological component must meet the trading conditions of the Shanghai Metal Exchange, and the total amount of the two times of storage and storage is 590,000 tons. The price is 12,350 yuan/ton to 12,500 yuan/ton. The China Development and Reform Commission has decided to sell off some of these aluminum ingots from November 1 to November 2 this year. The current trading price of aluminum ingots is around 16,650 yuan/ton. However, the low-lying state at the end of 2008 should not be repeated before the end of the next 2011, so it is difficult for at least one and a half years to see the national action to collect and store aluminum.
In addition, the State Material Reserve Bureau directly under the China Development and Reform Commission has also sold reserves of metallic indium and magnesium.
Li Yang said that China’s individual actions to collect and store non-ferrous metals have long been implemented. In the past, when the economy was low, it was proposed by the Non-ferrous Metal Industry Association’s proposal and related development and reform commissions and other relevant departments, but no mechanism was formed. It was only expedient. In fact, there is no more sound way to establish a sound collection and storage mechanism for non-ferrous metal countries.
On October 26, Tang Yan, director of the Metallurgical Department of the China Development and Reform Commission, said at the forum that China will establish a non-ferrous metal country purchasing and storage mechanism to regulate market supply and demand. If the supply and demand of the aluminum market is controlled by the state in the form of national collection and storage during the period of excess aluminum production capacity, the aluminum industry can collect and store aluminum products when the cost is relatively low, and release the reserves when the market enters into a cost-increasing production. Targeted metals include aluminum, copper, lead, zinc, rare earths, and may even push steel.
Tang Yan said that this is a complicated procedure, and the time limit for the change in cost value is difficult to determine, and there are many issues that need to be fully considered. Therefore, there is no clear timetable for the establishment of a non-ferrous metals purchasing and storage mechanism.
Development and Reform Commission: China will establish non-ferrous metal storage mechanism
On October 27, Li Yang, Senior Aluminum Analyst of the China Nonferrous Metals Industry Association, explained at the “China Aluminum Industry Forum 2010†that the national collection and storage operation for aluminum products was commissioned during the economic downturn in late 2008 and early 2009. However, the China Development and Reform Commission has decided to sell some of the aluminum ingots in this batch of storage in November 2010. The day before, Tang Yan, Director of the Metallurgical Department of the China Development and Reform Commission, said at the same forum that China will establish a non-ferrous metal country purchasing and storage mechanism to regulate market supply and demand, but no timetable has yet been set.