China planning to add cobalt, copper in boost to state metal reserves

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China planning to add cobalt, copper in boost to state metal reserves - Business Standard

Quick Summary:

Trump last month ordered the US Commerce Department to investigate imports of copper, potentially in anticipation of imposing duties.

The NDRC also said in its annual report that it would steadily build out storage facilities for grain, cotton, sugar, meat, and fertilizers, plus national oil reserve bases and general storage warehouses.

China has been diversifying its commodity suppliers for some time, seeking to minimize risk — but it is now also coming up against global trade dislocation triggered by US President Donald Trump’s tariffs and the resulting market volatility.