Save
PrintDec 17 (Reuters) - China's commodity stockpiler is working on plans to buy about 300,000 tonnes of copper and 100,000-150,000 tonnes of nickel in 2014 to take advantage of weak international prices, said three sources with knowledge of the matter.
The potential purchases by the State Reserves Bureau would be equivalent to two-thirds of copper stocks and half of nickel stocks in the London Metal Exchange's registered warehouses, which would push up prices.
Details of the plans have not been finalised, after the state body made enquiries about global supply and premiums of the two metals last month to select firms, according to two of the sources.
State Reserves Bureau was likely to import the copper and nickel through mostly state owned firms and the plans are unlikely to be announced, the two sources said.
The third source said unless international prices were lower or it did not want to push up domestic prices, they preferred to stock metals fro m domestic market
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:editor]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Online inquiry
Contact
Tell Us What You Think