(Feb 3): China wants more copper in its state stockpiles, according to a senior metals industry official, a move that would add to upward pressure on prices and highlight a growing push by governments to bolster supply security. The country will expand the size of its strategic copper reserves and also work with major state-owned producers to boost commercial inventories, Duan Shaofu, deputy secretary general of the China Nonferrous Metals Industry Association, said at a press conference on Tuesday. The plan comes just days after copper prices spiked to a record high, and is the latest sign that copper is becoming even more of a strategic asset as major economies fret about supply-chain risks. China already maintains strategic stockpiles of commodities such as copper, oil and cobalt to support industrial activity and protect Asia’s biggest economy from supply disruptions. The country is also assessing the possibility of adding copper concentrate into its reserves, Duan said, without elaborating.

Source: The Edge Markets February 03, 2026 09:30 UTC