Morning Bites (part 1)

🇨🇳Total car sales in China increased 9% YoY in October (vs. the +15% YoY in September)

📌China’s new cataIyst containing (ICE+hybrids) car sales inched down 1% YoY in October (vs. the +7% YoY in September). In our view, the recent exclusion of EVs support from China’s 2026-30 strategic industries plan, as well as potentially higher PGM loadings into local autocatalysts after 2026 (due to upcoming China 7 emissions standard, is likely to bolster Pd/Pt market fundamentals in the medium-term. The Chinese automotive sector accounts for 20% and 17% of global Pd and Pt demand, respectively

📌New EV sales in China jumped 20% YoY in October, vs. the +25% YoY seen in September. Specifically, local BEV sales (65% of total EV registrations) gained 32% YoY, while PHEVs added 3% YoY

#cars #EV #nickel #lithium #cobalt