Morning Bites (part 1)

🇨🇳Total car sales in China increased 14% YoY in June (vs. +11% YoY in May)

📌China’s new ICE car sales rose 5% YoY in June, reversing from the -6% YoY in May. Meanwhile, the sales of local catalyst-containing cars (ICE+PHEV) also grew 5% YoY. In our view, this is a favorable factor for medium-term PGM market fundamentals. 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 27% YoY in June, vs. the +37% YoY in May. Specifically, local BEV sales (65% of total EV registrations) gained 40% YoY, while PHEVs added 8% YoY

#cars #EV #nickel #lithium #cobalt