China Sells Aluminum Ingot From Reserves

(Beijing) -- China's State Reserve Bureau (SRB) sold 96,000 tons of aluminum ingot from state stockpiles by November 2, at prices higher than the bureau's purchased costs.

Public auctions on the ingot were held on November 1 and 2, which attracted 20 enterprises including aluminum smelters and traders to participate in the auction. Some of these reserves were bought from domestic smelters in 2008 and 2009 with prices between 12,350 yuan per ton to 12,500 yuan per ton.