Gansu’s provincial government is formulating a “Nonferrous Metals Reserve Action Plan in Gansu”. The plan will reserve a total of 436 kt of nonferrous metals for seven months including 80 kt of copper, 300 kt of aluminium, 40 kt of zinc, 15 kt of nickel and 1 kt of cobalt. The reserve period is planned to apply for seven months from 1 May 2020 to 31st December 2020.
The funds needed for non-ferrous metal reserves are to be provided by each individual producer via bank loans and in the form of product pledges. Interest and storage fees incurred during the reserve period will be subsidized by the annual provincial budget.