Morning Bites (part 2)

🥈Solar panel installations in China dropped a further 57% YoY in July, accelerating from the -31% YoY in June, per NEA data, as some key subsidies for local solar projects expired in early-June, and investment in grid infrastructure is failing to keep pace with the surging installations of renewable energy capacity in the last several years. However, the figure was still up 76% YoY in 7mo25

Meanwhile, overall photovoltaic cell output in China surged 116% YoY in July, accelerating from the 35% YoY gain in June (and was up 42% YoY on 7mo25 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