Morning Bites (part 1)
   
📌China’s new internal combustion engine car sales rose 3% YoY in September, following the 1% YoY increase in August. However, the numbers remained below their pre-Covid level (-11% vs. September 2019), amid the growing appetite for EVs, which continue to weigh on PGM consumption. ICE car sales were also down 1% YoY in 9mo23 and -15% vs. 9mo19. The Chinese auto sector represents some 26% and 17% of the world’s autocatalyst Pd and Pt demand, respectively
   
📌New EV sales in China jumped 28% YoY in September, after the 27% YoY increase in August. Meanwhile, in 9mo23, EV sales grew 38% YoY. Overall, the continuous growth in EV sales might further drive up 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