S.Korea raises stock targets of copper

South Korea, heavily dependent on imported resources, said on Wednesday it would hike inventory targets of copper, tin, and several rare metals to improve inventory management and ensure supply.

The state-run Public Procurement Service （PPS） said in a statement it would raise its inventory targets for copper and tin to a respective 80 and 75 days of import demand from the previous 60 days.

It will also increase stock targets of rare metals including cobalt, bismuth, indium, tantalum and lithium.

The agency previously set an identical target of 60 days of import demand for inventories of six non-ferrous metals and 11 rare metals.

 The government has found uniform targets a hurdle to maximising efficiency in stockpiling that could fail to cope with possible supply crises and support small and medium sized firms。

South Korea would lower stock targets of aluminium and lead to 40 days of import demand from the previous 60 days, as global supplies were seen as relatively more stable.