China will sell 100 thousand tons of copper, aluminum and zinc from state reserves as part of measures to curb the rise in raw materials prices and support the market. This was reported by the National Food and Strategic Reserves Administration.

In mid-June, China announced its intention to start selling key industrial metals from government stocks to curb higher commodity prices and ease pressure on producers from rising costs. The metals will be sold to Chinese converters and producers through public auctions.

Copper futures contracts on the New York Mercantile Exchange (NYMEX) have grown by more than 20% since the beginning of this year, and almost 1.5 times over the past year.

China now is in situation that is worse that Germany had been in 1941 - already past coal peak (Germany had one in 1943), already past most metals peak (Germany had been many years before this).