China Sells Aluminum Stockpiles at Below Market Price

Bloomberg.com reports that most of the aluminum sold from Chinese state reserves was sold below market price.

The story is quoted as saying:

A total of 95,767 metric tons out of 96,000 tons were sold at an average price of 15,343 yuan ($2,302) a ton through public auctions on Nov. 1 and Nov. 2, said the State Bureau of Material Reserve, also known as the State Reserve Bureau, which comes under the commission. The highest price was 15,920 yuan and the lowest 14,440 yuan, it said.

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