Morning Bites

📉China’s aluminium products output fell 1% YoY to 5.28mnt in July, vs. the +10% YoY in June. This was the first decline since June 2022 (ex. the -4% YoY in December 2022). As China accounted for ~58% of world primary Al demand in 2022, the slowdown in consumption, were it to persist, could be an unfavourable factor for the metal's price. In addition, China might relaunch some of its smelters (>2% of world 2022 Al supply), once local electricity curbs are eased

🥉Chinese output of copper products was roughly flat YoY in July at 1.88mnt, after the +5% YoY in June. The figure might have been partially supported by the 50% YoY surge in the output of domestic power generation equipment (vs. +53% YoY in June). To recap, China represents ~55% of global Cu consumption

#aluminium #copper
https://metals-wire.com:3000/news-reports