Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Chinese auto production rose by 14.1pc to 2.52mn units in September from the prior year while sales increased by 12pc to 2.56mn, according to the China Association of Automobile Manufacturers (CAAM) data.


In the Jan-Sep period, auto production fell by 6.7pc to 16.95mn units from a year ago. Commercial vehicle production rose by 12.7pc to 479,000 units in September while passenger car production was 2.04mn units, up 9pc from the previous year.


Sales in September rose by 12.8pc for passenger and commercial vehicles to 2.56mn units from September 2019. In the Jan-Sep period, sales fell by 6.9pc from the previous year to 17.11mn units in the nine months.


Major auto manufacturers have indicated that demand from Chinese markets is much better than in other countries. BMW, Audi and several others are expecting auto consumption in China to grow further this year.


China’s economic growth is essentially strong in terms of auto and infrastructure growth which is supporting demand for ferrous and non-ferrous metals, globally. China’s economy has shown robust growth post the pandemic-related lockdown with multiple government stimulus driving domestic demand.

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