Morning Bites (part 3)

📌China’s new internal combustion engine car sales grew 3% YoY in March (-25% vs. March 2019). The overall sector performance is still below the pre-Covid level, which, along with the growing popularity of EVs, continues to pressure the demand for PGMs. China’s auto sector accounts for some 26% and 17% of world autocatalyst Pd and Pt demand, respectively

📌New EV sales in China increased 35% YoY in March, after the 56% YoY surge in February. The EV sector is driving up the demand for battery metals such as cobalt, lithium, and nickel, while China has accounted for half of global EV sales in recent months. Hence, this growth might bolster the demand for the battery metals

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