SMM4, April 26: on April 24, the people's Government of Yunnan Province issued a circular on "several measures to support the development of the real economy." the first measure is to support key enterprises to carry out commercial collection and storage of non-ferrous metal products. In accordance with the principle of "enterprise collection and storage, bank loans, financial subsidies, market operation, self-financing", the province's copper, aluminum, lead, zinc, tin, germanium, indium and other key non-ferrous metal products commercial collection and storage, the total amount of collection and storage is about 800000 tons, the collection and storage time is one year. The funds required for collection and storage shall be loaned to the bank by the enterprise in the form of product pledge. The provincial finance allocates 1 billion yuan in special funds to partially discount interest on bank loans to enterprises. Among them, 80% discount subsidies are given to enterprises that store tin, germanium and indium, and 60% discount subsidies are given to enterprises that collect and store copper, electrolytic aluminum, lead and zinc. (led by the Provincial Department of Industry and Information Technology; cooperation of the Provincial Development and Reform Commission, the Provincial Finance Department, the Provincial Local Financial Regulatory Administration and the Provincial SASAC)
How much impact does the Yunnan government support commercial collection and storage have on the related metal market?
Copper: according to SMM research, local copper companies have been notified, but do not specify how to implement and how much to pay, is still in the initiative stage. For the copper market, due to the problem of internal and external supply and scrap copper, there is no surplus of copper spot, and even the phenomenon of shortage of copper in North China, spot discount is also maintained at a high level, the significance of collection and storage behavior for enterprises is not great, the willingness to cooperate is not high, but if enforcement can still bring further benefits to the spot market.
The effects of other varieties will be updated later. Please refresh them later.
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