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China has taken action against record metal price rises, planning to start selling stocks from state warehouses in less than two weeks. The offer of the first 100,000-tonne tranche will take place on 5 and 6 July, but the market received the announcement coldly, partly because it had already discounted the news and partly perhaps because it was disappointed by the cautious start of the program.
Beijing had already indicated that it wanted to split sales, so there will be more in the near future …