Morning Bites (part 1)

🇨🇳Investment in China’s grid infrastructure rose 17% YoY in October, after the 12% YoY growth in September, according to the NBS data. On the 10mo24 basis, the figure grew 21% YoY, and was 28% above the 10mo20-23 average. On our numbers, the grid accounts for 10-15% of Cu and Al consumption in China, so rising investments are fundamentally supportive for the demand for these base metals

We recap that China is to invest ~USD 800bn (per Rystard Energy estimates) in the local grid in 2025-30 (vs. USD ~450bn spent in 2018-23), amid growing installations of renewable energy

🥈Solar panel installations in China surged 48% YoY in October, according to the NEA data. On the 10mo24 basis, the figure grew 30% YoY. Given the solid demand for renewable energy in China, we reiterate our positive view on silver, copper and aluminium, which are the key beneficiary metals of the proposed global transition to clean energy in 2024-30

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