China's metals association proposes expanding copper stockpile

The China Nonferrous Metals Industry Association recommended expanding the country's strategic copper reserves and boosting commercial inventories, and experts suggested adding copper concentrates to those reserves.

China's state-backed metals industry group has proposed expanding the country's strategic copper reserves. The recommendation came during the China Nonferrous Metals Industry Association's annual briefing. Association market experts also suggested adding copper concentrates to the strategic inventory and working with major state-owned producers to increase commercial inventories. The call followed U.S. announcements on strategic mineral policy, which provide international context for the discussion. What officials said: - The China Nonferrous Metals Industry Association recommended expanding strategic copper reserves and coordinating with major state-owned producers to boost commercial inventories. - Association market experts suggested the possibility of adding copper concentrates to national strategic reserves. - The recommendations were presented at the Association's annual briefing on Tuesday. - The proposals came a day after the U.S. unveiled "Project Vault," a planned $12 billion fund aimed at building strategic mineral reserves. - Copper has seen notable price gains over the past year, with a reported London peak of $14,500 per ton and a roughly 40% year-on-year rise, and about 4% higher since the start of 2026. Summary: The Association called for expanded strategic reserves and greater coordination on commercial inventories, but the briefing did not announce any government decision or timeline. Undetermined at this time.