China's Yunnan In 2nd Round Of Metals Stockpiling For Reserves

YUNNAN, May 8 -- China's Yunnan province launched its second round of metals stockpiling May 1, the provincial government's industry and communications committee said in a statement, in an effort to ensure steady growth for industries in the region.

    The government buying includes purchases of copper, aluminum, lead, zinc and tin, as well as germanium, and industrial silicon, the statement said, referring to details in Yunnan's nonferrous metals stockpiling plan.

    The move is similar to the province's first round of purchases of base metals in December, where it purchased a total of 552,000 metric tons of metals from nine producers.

    The statement didn't specify the amount of metals the province plans to purchase this time but said other metal producers in addition to the nine in the first round are allowed to participate but will be under strict scrutiny in the application process.

    The nine producers are Yunnan Aluminium Co., Yunnan Coal Chemical Industry Group, Yunnan Tin Co., Yunnan Luoping Zinc & Electricity Co., Yunnan Chihong Zinc & Germanium Co., Yunnan Jingding Zinc Co., Xiangyun Feilong Co., Yunnan Gejiu Electricity Plant, and Yunnan Copper Co..

    Yunnan's second round of purchases will last eight months, from April 30 through Dec. 31, said the statement.

    (Source: Dow Jones)