I think this is the reason why there has been selloff of metal & mining stock this week:
""Our base case is for total volumes of ... aluminium and zinc selling to be around 2% of China's annual demand, i.e. around 770,000 tonnes of aluminium and 140,000 tonnes of zinc, and for copper volumes to be minimal," it added.
Analysts and traders believe metals markets have already priced in some sales from China's reserves."
However, we still don't have any information about size of these sales and it will definitely continue to weigh on these markets," Stablum added."
Source: reuters.com/world/china/china-release-copper-aluminium-zinc-reserves-stabilise-commodity-prices-2021-06-16/
I think this is the reason why there has been selloff of metal &...
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