China Daily

Copper stockpiler seeks domestic supplies

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The State Reserve Bureau is seeking as much as 150,000 metric tons of domestical­ly produced refined copper for its stockpiles amid a collapse in prices to six-year lows, according to sources. The bureau issued the tender to multiple sellers including smelters at a meeting in Beijing on Tuesday, the people said, asking not to be identified because the informatio­n is private. Smelters in China, the world’s largest producer and consumer of metals, are contending with a collapse in prices as the nation’s growth slows to its weakest in a quarter century.

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