Morning Bites (part 1)

📈China’s output of aluminium products rose 5% YoY to 5.6mnt in July, after the -2% YoY in June. Given the persistently strong demand for Al in China (~60% of global consumption), bolstered by the rapid expansion of the new energy sector, we maintain our positive long-term view on aluminium

🥉Chinese output of copper products inched up 1% YoY in July to 1.9mnt, reversing from the -6% YoY in June. Despite some slowdown in consumption, the demand trends remain strong (amid surging grid investments, rapid solar panel installments, etc.) Furthermore, the widely expected monetary easing in the US in 2H24 might add further positives to sentiment on the red metal's price

China represents ~55% of global Cu demand

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