Morning Bites (part 1)

🥈Solar panel installations in China surged 5.6x YoY in May, vs. the 3.2x YoY growth in April, per NEA data, as some key subsidies were planned to expire in June, as investment in grid infrastructure is failing to keep pace with the installation of solar capacity. The figure was also up 2.4x YoY in 5mo25

Meanwhile, overall photovoltaic cell output in China grew 7% YoY in May, decelerating from the 32% gain in April (and was up 28% YoY on 5mo25 basis)

Given the solid demand for renewable energy in China, we maintain 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