Morning Bites

📈China’s aluminium products output rose 3% YoY to 5.48mnt in August, after the -1% YoY in July. We note that, at current prices, >50% of global Al suppliers are operating at close to breakeven, on our numbers. As China accounted for ~58% of world primary Al demand in 2022, any material increases in consumption, were they to materialise, might substantially support the metal's price

🥉Chinese output of copper products was down 5% YoY in August to 1.87mnt, after the flat dynamics seen in July. In the meantime, the growth in domestic power generation equipment slowed to 21% YoY (from +53% YoY and +50% YoY in June and July, respectively). To recap, China represents ~55% of global Cu consumption

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