The following lists official notifications from the National Food and Strategic Reserves Administration on metal auctions as well as China's private sales over the past decade as reported by Reuters:

Time Product Offer Sales Average Winner Comment

Volume Volume Price s of

Bid

2005 Copper 20,000 20,054 37,986.60 38 Auction on Nov.16; Each bidder with no more

firms than 1,000 T; 54 firms participated in the

bidding.

2005 Copper 20,000 13,385 37,542.60 34 Auction on Nov.23; Each bidder with no more

firms than 1,000 T; 49 firms participated in the

bidding.

2005 Copper 20,000 13,960 37,758.80 28 Auction on Nov.30; Each bidder with no more

firms than 1,000 T; 33 firms participated in the

bidding.

2005 Copper 20,000 3,761.70 38,921.43 11 Auction on Dec.7;Each bidder with no more than

firms 1,000 T; 30 firms participated in the bidding.

2010 Aluminium 96,000 95,766.93 15,343 21 Auction on Nov.1-2; Results announced on

firms Nov.8; 23 firms participated.

2010 Aluminium 117,00 117,671.9 15,395 42 Auction on Nov.23-24; Results announced on

0 3 firms Nov.29; 48 firms participated.

2010 Zinc 50,000 49,992.97 19,511 19 Auction on Nov.9; Results announced on Nov.12;

firms 37 firms participated.

2010 Lead 34,500 16,535.36 17,030 11 Auction on Nov.16; Results announced on

firms Nov.18; 14 firms were there.

2010 Magnesium 3,000 2,739.74 15,087 7 Auction on Oct.19; Results announced on

firms Oct.20; 8 firms participated.

2010 Steel 27,000 24,800 3,000 ~ 17 Auction on May.20; Results announced on June

products 16,000 firms 2; 18 types of steel products were sold; 26

firms were there.

2021 Copper 20,000 20,000 67,700* NA All sold on July 5.

2021 Aluminium 50,000 50,000 18,075* NA All sold on July 5.

2021 Zinc 30,000 30,000 21,000* NA All sold on July 5.

2021 Copper 30,000 Auction on July 29

2021 Aluminium 90,000 Auction on July 29

2021 Zinc 50,000 Auction on July 29

Note: The offer volume and sales volume were in tonnes. Average sales prices were in yuan per tonne.*Average price in July 2021 auctions according to sources. No prices officially announced.

The table below has details of non-public copper sales from reserves over the years.

Time Product Sales Volume (in Comment

tonnes)

2004 Copper 59,000 (unconfirmed) The SRB was reported to have offered to sell 59,000 T of

copper according to a May 13 Reuters report.

2005 Copper 10,000(unconfirmed) In May Reuters reported SRB was releasing 10,000 T of refined

copper to ease supply tightness, traders said.

2009 Copper 50,000(unconfirmed) Reuters reported the SRB had been selling a small volume of

its contracted copper imports and might sell up to 50,000


tonnes, according to sources. https://reut.rs/3qkh9Gj

2014 Copper 200,000(unconfirmed) A source told Reuters that the SRB was planning to sell about


200,000 T of old copper stocks. https://reut.rs/2UpjKmt

Below are some of the private purchases by the state stockpiler over the years.

Time Product Purchase Price Winners Comment

Volume

2008 Aluminium 300,000(unconf 12,300 6-7 Sources said SRB agreed to buy 300,000 T of

irmed) firms aluminium, with around half from Chinalco.


unconfi ( https://reut.rs/2SjgNmQ

rmed)

2008 Indium 30 Unknown Unknown SRB bought 30 T in December and was expected


to buy more. https://reut.rs/3xDWuPY

2008 Aluminium, Unknown Unknown Unknown In December 2008 SRB said it planned to buy

Copper, Lead 1 million T of aluminium, 400,000 T of

and Zinc copper and total of 400,000 T of lead and

zinc from domestic smelters over three

years.

2009 Copper 300,000 Unknown Unknown The SRB was believed to have contracted

(unco
nfirmed) 300,000 T of foreign refined copper. https://reut.rs/3wPqgkJ

2009 Zinc 100,000 11,450-11,500 Unknown Sources said SRB also planned to buy another

100,000 T in the second quarter, with eight


smelters keen to sell. https://reut.rs/3zRgwsc

2009 Nickel Unknown
Unknown Unknown SRB may buy 10,000 to 20,000 T of nickel. https://reut.rs/3dnI7rF

2009 Aluminium 290,000 12,490-12,500 Unknown In February, Reuters reported that SRB

bought 290,000 T of the primary aluminium

from local smelters,with 140,000 T of the

volumes from Chinalco, the parent of

Aluminum Corp of China Ltd (Chalco) 2600.HK

601600.SS.

2009 Zinc 59,0
00 11,800 7 firms The SRB agreed to buy refined zinc. https://reut.rs/3xPryN3

(unconfirmed)

2008-2009 Zinc 300,000 Unknown Unknown SRB expected to by 300,000 T from smelters

(unconfirmed) like Yunnan Luping Zinc and Yunnan Chihong


Zinc. https://reut.rs/3xDWuPY

2009-2011 Copper Unknown Unknown Unknown SRB may have bought between 500,000-750,000T

from international and domestic sellers in

the three year period

2012 Aluminium 100,000 15,730-15,760 Unknown The SRB initially planned to buy 160,000 T.

(https://bit.ly/3xBnsIa)

2012 Zinc 100,000 15,980-16,010 Unknown Initial target was at 150,000 tonnes. (https://bit.ly/3xEI5mA)

2013 Copper and Unknown Unknown Unknown The SRB was reported to be planning to buy

Nickel 300,000 T of copper and 100,000-150,000 T of

nickel in 2014. https://bit.ly/3gMvmbV

2013 Nickel 30,000 Unknown Unknown SRB bought 30,000 T of nickel imports. The

military also bought metal from

international markets.

2013 Germanium 30 12,090 yuan Unknown China has bought nearly a quarter of global

per kg production of the material used in fibre


optics and semiconductors, traders said. https://reut.rs/35Ze3yt

2014 Molybdenum 2,700 1,400-1,450 Unknown The molybdenum tender was the first in about

oxide yuan per one two decades and the SRB was expected to buy

percent of another 2,3000 of minor metal, according to


metal sources. https://reut.rs/3xxPC6T

contained

2014 Cobalt 100-200 $15.70/lb Unknown The state stockpiler had tendered for 1,000


tonnes. https://reut.rs/3xxPC6T

2014 Copper around 200,000 Unknown Unknown A source said the SRB had secured up to

350,000 bonded copper, according to Reuters


report. https://reut.rs/35PpdW4

2015 Aluminium more than 1 Unknown Unknown SRB was considering buying more than 1

mln million T of aluminium to support its local

(unconfirmed) smelters. This was after China Nonferrous

Metals Industry Association suggested that

the state buys 900,000 T of aluminium,

30,000 T of refined nickel, 40 T of indium,


and 400,000 T of zinc. https://reut.rs/2U0efL6reut.rs/3vRp2Ei)

2016 Antimony 7,500(unconfir Unknown 4 firms In an October story, Reuters reported the

med) SRB had recently bought refined antimony

ingots from four local producers, according

to traders.

2016 Copper 150,000 Unknown Unknown Sources told Reuters China planned to buy as

(unconfirmed) much as 150,000 T of copper. SRB had invited


at least one smelter to sell in a tender. https://reut.rs/3zMNkTf

2017 Cobalt up to 5,000 Unknown Unknown The SRB was said to have bought 5,000 T of


unconfirmed) cobalt in H1. ( https://reut.rs/3gYXEyP

2020 Cobalt 2,000(unconfir Unknown Unknown Jinchuan was reported to be supplying a

med) third of China's purchase volume. Traders

said state stockpiles were between


5,000-7,000T. https://reut.rs/3qjbrog

* The purchase volume were in tonnes. Average purchase prices were in yuan per tonne unless otherwise specified.

(Additional reporting by Tom Daly; Editing by Jacqueline Wong)

By Shivani Singh and Min Zhang