Morning Bites

📌China’s new internal combustion engine car sales rose 1% YoY in August, reversing from the 12% YoY decline in July. Sales, however, remained below their pre-Covid level (-7% vs. August 2019), likely amid the growing appetite for EVs, which is a stress factor for the consumption of PGMs. To recap, China represents some 26% and 17% of world autocatalyst Pd and Pt demand, respectively

📌New EV sales in China jumped 27% YoY in August, following the 32% YoY surge in July. As China has accounted for ~50% of global EV demand in recent months, this further increase in EV sales could add support to the demand for the battery metals basket (e.g. cobalt, lithium and nickel), we believe

#cars #EV #nickel #lithium #cobalt
https://metals-wire.com:3000/news-reports