SHANGHAI Chinas State Reserve Bureau (SRB) has awarded aluminum and zinc tenders, although the latter fell short of its target.
Chinas Aluminium Corp. of China Ltd. (Chalco) and five other state-owned smelters won a tender to sell 300,000 tonnes of aluminum to the SRB, AMM sister publication Metal Bulletin has been told.
Chalco tendered 100,000 tonnes, a Chalco source said, followed by Ningxia Qingtongxia Energy Aluminium Group Co. Ltd. at 90,000 tonnes; Henan Shenhuo Group Co. Ltd., Qinghai Qiaotou Aluminum & Electric Power Co. Ltd. and Yunnan Aluminium Co. Ltd., which each tendered 30,000 tonnes; and Henan Wanji Aluminium Co. Ltd. at 20,000 tonnes.
The March 15 tender was the second round of a total of 400,000 tonnes purchased by the SRB. The purchase price was set at 15,137 yuan ($2,435) per tonne.
Three zinc smeltersBayannaoer Zijin Nonferrous Metal Co. Ltd., Chifeng Hongye Zinc Smelting Co. and one othersold a combined 45,000 tonnes of metal to the SRB, short of the agencys 50,000-tonne target. The average purchase price was 15,882 yuan ($2,555) per tonne, below the SRBs ceiling of 16,000 yuan ($2,574), market sources said.
A version of this article was first published by AMM sister publication Metal Bulletin.