Chenzhou, a city in central China's Hunan Province, plans to build up its own metals reserves, to support local metals companies, the city government said on its website.
The city plans to buy 2,000 tonnes of silver, 50,000 tonnes of lead, 50,000 tonnes of zinc, 5,000 tonnes of tungsten, 5,000 tonnes of tin and 3,000 tonnes of bismuth this year, Hunan Online an official news site said.
But the city has not started purchases, and prices and timing have yet to be decided.
"It is just an intention," said an official at the city's government, who declined to be named.
Chenzhou, rich in mining resources, was hit hard during the unusual snow storms in early 2008.
China's Yunnan province launched its plan to support local firms by buying nonferrous metals in December.
To help metal firms in a dire situation after commodities prices collapsed, China's State Reserves Bureau has been buying various metals, including copper, aluminium, zinc and nickel. – Alibaba News Channel
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