Morning Bites (part 1)

📈China’s output of aluminium products grew 3% YoY to 5.7mnt in November, following the 5% YoY increase in October. Although Chinese aluminium consumption (~58% of global primary Al demand in 2022) is showing a persistent upward trend, global production of the metal is growing at a comparable rate, which at least partially offsets the increase in demand, we believe

🥉Chinese output of copper products declined 4% YoY in November to 2.0mnt, reversing from the +1% YoY in October. Meanwhile, the output of domestic air conditioners and refrigerators was up 7% YoY and 8% YoY, respectively, in November, which added some support to the dynamics. To recap, China remains the world's major copper consumer, representing ~55% of global Cu demand

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