Top Chinese car manufacturers have reported an increased production in the first 10 days of August, according to industrial data of China Association of Automobile Manufacturers (CAAM).
The Chinese auto body said that total auto production of these companies stood at 473,000 units, up 11.2pc from the prior year period. However, this also marked a 24pc drop in production compared to first 10 days of July. A rise in auto production translates in to high demand for metals including steel, aluminium, zinc and lead, as also demand for auto components.
Passenger car output is up 6.8pc in first 10 days of August to 415,000 units while commercial vehicles production rose 58pc to 58,000 units from a year ago period.
China’s auto sales surged 16.4pc in July from a year ago which marked the fourth consecutive month of growth with 2.11mn vehicle sold, according to CAAM. From Jan-July, sales were down 12.7pc from the previous year to 12.37mn units.