China has officially called an official halt to the state stockpiling of non-ferrous metals that drove up world metals prices while demand in the rest of the world languished. But there were some curious details in the official explanation for the end to State Reserve Bureau (SRB) stockpiling, including an apparent broadside against the "middle-men and arbitragers" who have benefitted. "Domestic prices are currently higher than international prices, and a large volume of foreign metal resources are flowing into China. It therefore makes no sense for China to continue the storage and reservation of metals, and the country should stop these measures," said a National Development and Reform Commission (NDRC) official in an editorial published by the People's Daily Online on July 1.
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