Beijing confirmed the release of state reserves for the first time in a decade to cool metals markets, but copper prices rose more than 1% on the news.
An analysis by Wood Mackenzie states that aluminum’s role in the green economy may be dampened by the industry’s steep road to secure low-carbon power.
Notice came as Beijing struggles to cool a surge in metal prices this year fuelled by a post-pandemic economic recovery, ample global liquidity and speculative buying that has dented manufacturers’ margins.