Morning Bites

📈China’s output of aluminium products rose 6% YoY to 5.9mnt in December, accelerating from the +3% YoY in November. Despite persistently strong demand for aluminium in China (~58% of world primary Al consumption in 2022), domestic and global supply are also growing (+3% and +2% YoY, respectively, in 2023), which limits the potential upside in the metal’s prices. Furthermore, on our numbers, ~50% of global non-integrated Al suppliers are breakeven or loss-making at spot

🥉Chinese output of copper products dropped 10% YoY in December, to 2.0mnt, accelerating from the -4% YoY in November. China remains the world's major copper consumer, representing ~55% of global Cu demand. Hence, if the negative dynamics were to persist, it might add some stress to copper prices

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