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buy apple account(buyappleacc.com):Explainer: What China keeps in its secretive commodity reserves

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For the first time in a decade, China has released some of its strategic metal stocks to try to dampen a price rally hurting manufacturers. It has also released coal and imported corn reserves to cool prices, while buying pork to prop up that market.

China is the world's largest user of commodities and has built up vast reserves. The following are details of key commodities and estimates and assessments of strategic reserve levels

(For graphic on China’s Commodities Market Share vs Rest of World - https://fingfx.thomsonreuters.com/gfx/ce/lbpgnrnoqvq/China%20Commodities%20Market%20Share.jpg)

METALS

Based on past stockpiling activity, analysts estimate China's strategic reserves hold 1.5 million to 2 million tonnes of copper, 800,000-900,000 tonnes of aluminium and 250,000-400,000 tonnes of zinc.

The reserves administration also stockpiles key battery metal cobalt, of which industry sources estimate China is holding some 7,000 tonnes. It also keeps nickel and other metals including antimony, indium, germanium and molybdenum oxide.

It is not thought to hold any tin or lead, according to The International Tin Association and International Lead and Zinc Study Group, respectively.

GRAINS AND MEAT

China's grain reserves are sufficient to feed its 1.4 billion citizens, with the storage capacity exceeding 650 million tonnes, Xinhua reported in April, but did not specify how long the reserves could feed the population.

Grains stockpiler Sinograin will start building 120 storage facility projects, totalling 10.85 million tonnes of capacity, official media reported in July.

Stocks of rice and wheat are enough to meet more than one year of the country's consumption, Liang Yan, deputy head of the reserves administration, told a news conference in April.

Wheat and rice make up about 70% of China's state grain reserves, which are held both centrally and at local levels, state TV reported in August 2020.

(For graphic on China's share of world crop stocks since 2000/2001 - https://fingfx.thomsonreuters.com/gfx/ce/zgpomwnobpd/ChinaShareofCropStocks.png)

The country's meat reserves held almost 1 million tonnes of pork by 2019, according to a South China Morning Post report at the time citing an analyst.

Pork needs to be regularly rotated to ensure it does not spoil.

China's state corn reserves were estimated at around 200 million tonnes in 2017, according to market consensus, and have been whittled down to almost zero by 2020 as the agency sold off ageing grain.

Beijing sold more than 56 million tonnes of corn from its reserves in 2020, according to Reuters calculations, based on statements released on the website of the National Grain Trade Centre.

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