Morning Bites

🏗China’s excavator sales grew 12% YoY in August (domestic + export), accelerating from the +9% YoY in July, according to the CCMA data. The figure slightly exceeded the CME estimates. Specifically, domestic sales were up 18% YoY (but still 46% below the August 2021 level). Despite the positive dynamics seen in recent months, we note that the major sales volumes usually take place in February-April, making the summer period less representative. We maintain our view that more government support measures are required for a full-scale recovery in China’s property sector

China accounts for 52% of global steel consumption, and for 57% and 61% of world Cu and Al demand, respectively

#steel
https://metals-wire.com/sector/Steel