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  • TIMELINE-China's sales and purchases of state metal reserves

    By Shivani Singh and Min Zhang BEIJING, Aug 5 (Reuters) — For the first time in more than a decade, China held two auctions in July to release state reserves of metals, including copper, aluminium and zinc, to try to boost market supply and help manufacturers hit by rocketing commodity prices.

    The following lists official notifications from the National Food and Strategic Reserves Administration on metal auctions as well as China’s private sales over the past decade as reported by Reuters: Time Product Offer Sales Average Winner Comment Volume Volume Price s of Bid 2005 Copper 20,000 20,054 37,986.60 38 Auction on Nov.16; Each bidder with no more firms than 1,000 T; 54 firms participated in the bidding.

    2005 Copper 20,000 13,385 37,542.60 34 Auction on Nov.23; Each bidder with no more firms than 1,000 T; 49 firms participated in the bidding. 2005 Copper 20,000 13,960 37,758.80 28 Auction on Nov.30; Each bidder with no more firms than 1,000 T; 33 firms participated in the bidding.

    2005 Copper 20,000 3,761.70 38,921.43 11 Auction on Dec.7;Each bidder with no more than firms 1,000 T; 30 firms participated in the bidding. 2010 Aluminium 96,000 95,766.93 15,343 21 Auction on Nov.1-2; Results announced on firms Nov.8; 23 firms participated.

    2010 Aluminium 117,00 117,671.9 15,395 42 Auction on Nov.23-24; Results announced on 0 3 firms Nov.29; 48 firms participated. 2010 Zinc 50,000 49,992.97 19,511 19 Auction on Nov.9; Results announced on Nov.12; firms 37 firms participated. 2010 Lead 34,500 16,535.36 17,030 11 Auction on Nov.16; Results announced on firms Nov.18; 14 firms were there.

    2010 Magnesium 3,000 2,739.74 15,087 7 Auction on Oct.19; Results announced on firms Oct.20; 8 firms participated. 2010 Steel 27,000 24,800 3,000 ~ 17 Auction on May.20; Results announced on June products 16,000 firms 2; 18 types of steel products were sold; 26 firms were there.

    2021 Copper 20,000 20,000 67,700* NA All sold on July 5. 2021 Aluminium 50,000 50,000 18,075* NA All sold on July 5. 2021 Zinc 30,000 30,000 21,000* NA All sold on July 5. 2021 Copper 30,000 Auction on July 29 2021 Aluminium 90,000 Auction on July 29 2021 Zinc 50,000 Auction on July 29 Note: The offer volume and sales volume were in tonnes.

    Average sales prices were in yuan per tonne. *Average price in July 2021 auctions according to sources. No prices officially announced. The table below has details of non-public copper sales from reserves over the years. Time Product Sales Volume (in Comment tonnes) 2004 Copper 59,000 (unconfirmed) The SRB was reported to have offered to sell 59,000 T of copper according to a May 13 Reuters report.

    2005 Copper 10,000(unconfirmed) In May Reuters reported SRB was releasing 10,000 T of refined copper to ease supply tightness, traders said. 2009 Copper 50,000(unconfirmed) Reuters reported the SRB had been selling a small volume of its contracted copper imports and might sell up to 50,000 tonnes, according to sources.

    website 2014 Copper 200,000(unconfirmed) A source told Reuters that the SRB was planning to sell about 200,000 T of old copper stocks. website Below are some of the private purchases by the state stockpiler over the years. Time Product Purchase Price Winners Comment Volume 2008 Aluminium 300,000(unconf 12,300 6-7 Sources said SRB agreed to buy 300,000 T of irmed) firms aluminium, with around half from Chinalco.

    (unconfi website rmed) 2008 Indium 30 Unknown Unknown SRB bought 30 T in December and was expected to buy more.website 2008 Aluminium, Unknown Unknown Unknown In December 2008 SRB said it planned to buy Copper, https://sushiharumi.com/ Lead 1 million T of aluminium, 400,000 T of and Zinc copper and total of 400,000 T of lead and zinc from domestic smelters over three years.

    2009 Copper 300,000 Unknown Unknown The SRB was believed to have contracted (unconfirmed) 300,000 T of foreign refined copper. website 2009 Zinc 100,000 11,450-11,500 Unknown Sources said SRB also planned to buy another 100,000 T in the second quarter, with eight smelters keen to sell.

    website 2009 Nickel Unknown Unknown Unknown SRB may buy 10,000 to 20,000 T of nickel. website 2009 Aluminium 290,000 12,490-12,500 Unknown In February, Reuters reported that SRB bought 290,000 T of the primary aluminium from local smelters,with 140,000 T of the volumes from Chinalco, the parent of Aluminum Corp of China Ltd (Chalco) 2600.HK 601600.SS.

    2009 Zinc 59,000 11,800 7 firms The SRB agreed to buy refined zinc. website (unconfirmed) 2008-2009 Zinc 300,000 Unknown Unknown SRB expected to by 300,000 T from smelters (unconfirmed) like Yunnan Luping Zinc and Yunnan Chihong Zinc. website 2009-2011 Copper Unknown Unknown Unknown SRB may have bought between 500,000-750,000T from international and domestic sellers in the three year period 2012 Aluminium 100,000 15,730-15,760 Unknown The SRB initially planned to buy 160,000 T.

    website 2012 Zinc 100,000 15,980-16,010 Unknown Initial target was at 150,000 tonnes. website 2013 Copper and Unknown Unknown Unknown The SRB was reported to be planning to buy Nickel 300,000 T of copper and 100,000-150,000 T of nickel in 2014. website 2013 Nickel 30,000 Unknown Unknown SRB bought 30,000 T of nickel imports.

    The military also bought metal from international markets. 2013 Germanium 30 12,090 yuan Unknown China has bought nearly a quarter of global per kg production of the material used in fibre optics and semiconductors, traders said. website 2014 Molybdenum 2,700 1,400-1,450 Unknown The molybdenum tender was the first in about oxide yuan per one two decades and the SRB was expected to buy percent of another 2,3000 of minor metal, according to metal sources.

    website contained 2014 Cobalt 100-200 $15.70/lb Unknown The state stockpiler had tendered for 1,000 tonnes.website 2014 Copper around 200,000 Unknown Unknown A source said the SRB had secured up to 350,000 bonded copper, according to Reuters report. website 2015 Aluminium more than 1 Unknown Unknown SRB was considering buying more than 1 mln million T of aluminium to support its local (unconfirmed) smelters.

    This was after China Nonferrous Metals Industry Association suggested that the state buys 900,000 T of aluminium, 30,000 T of refined nickel, 40 T of indium, and 400,000 T of zinc. website 2016 Antimony 7,500(unconfir Unknown 4 firms In an October story, Reuters reported the med) SRB had recently bought refined antimony ingots from four local producers, according to traders.

    2016 Copper 150,000 Unknown Unknown Sources told Reuters China planned to buy as (unconfirmed) much as 150,000 T of copper. SRB had invited at least one smelter to sell in a tender. website 2017 Cobalt up to 5,000 Unknown Unknown The SRB was said to have bought 5,000 T of (unconfirmed) cobalt in H1.

    website 2020 Cobalt 2,000(unconfir Unknown Unknown Jinchuan was reported to be supplying a med) third of China’s purchase volume. Traders said state stockpiles were between 5,000-7,000T. website * The purchase volume were in tonnes. Average purchase prices were in yuan per tonne unless otherwise specified.

    (Additional reporting by Tom Daly; Editing by Jacqueline Wong)

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