Morning Bites (part 1)

🇨🇳Total car sales in China grew 11% YoY in December (vs. +12% YoY in November)

📌China’s new ICE car sales declined 3% YoY in December, vs. the 7% YoY drop in November. Although the growing appetite for BEVs in China is affecting PGM consumption, sales of catalyst-containing cars (ICE + PHEV) grew 8% YoY in December. We note that the Chinese automotive sector accounts for 20% and 17% of global Pd and Pt demand, respectively

📌New EV sales in China jumped 33% YoY in December, vs. +47% YoY in November. Specifically, BEV sales (61% of total EV registrations vs. 69% in Dec-23) grew 18% YoY, while PHEVs added 70% YoY. Given the gradual shift to hybrids in China (which contain catalysts), this might add some support to PGM market fundamentals in the medium term, we believe

#cars #EV #nickel #lithium #cobalt
https://metals-wire.com/news-reports