Morning Bites (part 1)
  
📌China’s new internal combustion engine car sales fell 12% YoY in July, following the 5% YoY decline in June. The sales remained below their pre-Covid level (-7% vs. July 2019), amid the growing appetite for EVs, which continue to weigh on PGM consumption. The Chinese auto sector represents some 26% and 17% of world autocatalyst Pd and Pt demand, respectively
  
📌New EV sales in China jumped 32% YoY in July, after the 35% YoY increase in June. Overall, the continuous growth in EV sales might further increase the consumption of the battery metals basket (e.g. cobalt, lithium and nickel), as China has accounted for ~50% of global EV demand in recent months
  
#cars #EV #nickel #lithium #cobalt   
https://metals-wire.com:3000/news-reports