Commodities

China copper reserves auction website resumes after crash

Credit: REUTERS/CARLOS BARRIA

China copper and zinc reserves auction website has resumed after a temporary breakdown during the online bidding of a second batch of sales on Thursday, a customer service representative of the platform said.

BEIJING, July 29 (Reuters) - China copper and zinc reserves auction website has resumed after a temporary breakdown during the online bidding of a second batch of sales on Thursday, a customer service representative of the platform said.

China announced it would release a total of 170,000 tonnes of metals, including copper, aluminium and zinc, from state reserves on Thursday to nonferrous fabricators.

A total of 30,000 tonnes of copper and 50,000 tonnes of zinc is open for public bidding on the platform operated by China Minmetals Corp.

However, the platform crashed several minutes after auctions started at 9 a.m. Beijing time (0100 GMT), a customer service representative of the platform told Reuters, adding that the system had resumed.

The person did not give the reason for the breakdown.

Auctions in the afternoon session will start at 1 p.m. and go on until 6 p.m. (0500-1000 GMT)

(Reporting by Min Zhang, Shivani Singh and Beijing Newsroom; Editing by Amy Caren Daniel)

((min.zhang@thomsonreuters.com; (8610) 5669-2105;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More