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China Has Bought 235,000 T Copper as Reserves -Report

Copper in Shanghai Advances for Fifth Day as Inventories Drop

HONG KONG, June 29 -- China has bought 235,000 tonnes of copper, 30 tonnes of indium and 5,000 tonnes of titanium, Caijing magazine quoted an official of National Development and Reform Commission (NDRC) as saying.
&nbsp;&nbsp;&nbsp; But China would not continue purchases. &quot;State purchases for reserves will not continue under current market conditions,&quot; Yu Dongming at the NDRC's metallurgical deparment told a conference.
&nbsp;&nbsp;&nbsp; It is the first public confirmation of the NDRC's State Reserves Bureau's secretive purchases of copper for reserves.
&nbsp;&nbsp;&nbsp; The SRB is widely known to have bought 590,000 tonnes of primary aluminium and 159,000 tonnes of refined zinc from Chinese smelters since December last year.
&nbsp;&nbsp;&nbsp; (Source: Reuters) 
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