Morning Bites (part 1)
  
📌China’s new internal combustion engine car sales were down 5% YoY in June, reversing from the +18% YoY in May. Overall, the sales remained below their pre-Covid level (-5% vs. June 2019), which, along with growing appetite for EVs, keeps weighing on the demand for PGMs. We remind our readers that the Chinese auto sector accounts for some 26% and 17% of world autocatalyst Pd and Pt demand, respectively
  
📌New EV sales in China jumped 35% YoY in June, following the 60% YoY spike in May. In our view, further growth in EV sales is set to bolster the consumption of the battery metals basket (e.g. cobalt, lithium and nickel), as China accounted for ~50% of global EV demand in recent months
  
#cars #EV #nickel #lithium #cobalt   
https://metals-wire.com:3000/news-reports