Morning Bites (part 3)

📌China’s new internal combustion engine car sales shrank 8% YoY in October, after the 11% YoY growth in September. Overall, the figure is in line with the growing domestic appetite for EVs. China’s auto sector accounts for some 26% and 17% of global autocatalyst Pd and Pt demand, respectively, which we think implies a slightly negative cross-read for future PGM consumption

📌China’s new EV sales jumped 82% YoY in October, slightly decelerating from the 94% YoY growth in September. The outstanding performance of EV sales in China is a moderate positive in terms of the global demand for the battery metals basket (nickel, lithium and cobalt), since China accounts for 49% of the world EV market

#cars #EV #nickel #lithium #cobalt
https://metals-wire.com:3000/news-reports