Morning Bites

📌China’s new internal combustion engine car sales dropped further, and were down 26% YoY in November, after the 8% YoY decline in October. The figure is likely to reflect the growing interest for EVs in the region. China’s auto sector accounts for roughly 26% and 17% of global autocatalyst Pd and Pt demand, respectively. We reiterate our view that such dynamics imply a negative read-across for future PGM consumption, especially if the trend persists

📌China’s new EV sales soared 72% YoY in November, although that was a slight deceleration from the 82% YoY growth in October. The continuation of the strong EV sales trend in China (there have been hefty YoY increases since mid-2020) is a positive factor for the global demand for the battery metals basket (such as nickel, lithium and cobalt), with China accounting for ~60% of the world's EV sales in October

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