Rare earths and other countries are considering to copper purchase policies

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Rare earths and other countries are considering to copper purchase policies

On June 11, China would consider the products of some important resources (such as copper, rare earth, etc.) adopted a policy of collection and storage, and for some rare metals like rare earth measures for the management measures of the message in the non-ferrous metal industry.

Stimulated by this good news, the Shanghai futures exchange copper a slump in the days of Shanghai, on the day of contract 1209 jump up to empty the main forces to closed up 1320 points, closing at 54350 yuan per ton.

The reporter understands from development and reform commission energy research institute, the authorities, the country recently and have no plan for purchasing copper.

Reporter also learned that at the same time, the construction has already begun preparing the copper reserve mechanism, as well as rare earth is expected in the future to establish a fixed purchase mechanism, and the future copper collection and storage, its purchase price and quantity will be carried out in secret way.

"Copper purchase project is still on the set, is not is in recent years, the future purchases will lay particular stress on national economic security, paying attention to the adjustment function of the market price at the same time. But the copper purchasing and the concrete operation process and the data will be kept confidential." Ministry of industry and raw materials department officials said.

The personage inside course of study is generally believed that the news about copper purchases show concern about domestic economic trends, the administrative department is still in a high copper prices clearly do not reflect the real demand of the copper market, the second half of this year prices will continue to decline.

"Reserve mechanism is working, dont say will soon be implemented. Now that is a national reserve, it is not just in order to regulate the market, but also for the national economic safety, believe that after taking this reserve measures would be the norm." On June 12, the ministry of industry and raw materials department official told our reporter, said he believes copper purchases, the time, is on the basis of copper and the trend of the economic environment.

"The market has been disputed for reserve copper or aluminum. Relative to the aluminum, copper price fluctuations is bigger, and the industrial application range is wide, it always ACTS as a barometer of base metal raw materials. So keep copper prices stable, influence on the whole industrial economy, far more strategic than aluminum reserves." Ministry of industry and raw materials department official said.

On whether the purchase copper at the same time, will also be on rare earths and tungsten resources products, adopted a policy of collection and storage, the miit officials said: about rare earths, and several kinds of metal such as tungsten reserves of prophase research has started early, the specific launch time remains to be seen with the development and reform commission for final negotiation.

"Such as the reserves of rare earth advice is put forward as early as last may, the tungsten reserves also determine the beginning of this year, but they havent launched now." The miit officials said.

Market players think, timing of purchases would refer to the cost of the product price, only when the price is close to or below the cost price, only suitable for collection and storage.

At present domestic copper prices maintained at 50000 yuan ~ 60000 yuan per ton range. In terms of cost, the cost of domestic production of the electrolytic copper between 30000 ~ 40000 yuan, the price of imported copper between 25000 ~ 30000 yuan, compared with the market price of copper is 50000 ~ 60000 yuan, there are a lot of space.

Beijing senior Li Yusheng a copper analyst at antaike information development co LTD, said copper prices remained high, and now there is no use for purchasing to boost the needs of the market price.

"I think now stockpiled copper inappropriate, but from the point of system construction, now began to set up copper purchase mechanism must be needed." Li Yusheng thinks, when price is goodish reserves, perhaps in response to the coming of the economic situation continues to deteriorate.

National bureau of statistics announced on June 9, the latest price, according to data may consumer price index (CPI) rose 3.0% year-on-year, for 23 months since July 2010 low, while the industrial producer prices (PPI) fell 1.4% year-on-year, the non-ferrous metal prices fell 6.2% year on year, fell 0.7%, both in the low in recent years.

About will take similar measures for the management of rare earth for some rare metal, a veteran in the industry told reporters: "rare earth now separated by domestic and foreign trade management. To realize the mandatory plans, mining, smelting in domestic USES the quota restrictions on exports. Copper is expected to purchase will draw lessons from rare earth measures for the collection and storage of the rare earth enterprise reserves, mine reserves and national reserves. Copper is likely to use national reserves and the enterprise synchronous secret reserves, because copper imports, so the mining reserves."

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