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Total Chinese stocks (658kt) are equivalent to 2.6 Chinese refined consumption rebounded 18% YOY in Q1 2021. Goldman Sachs and Robert Friedland, Founder of Ivanhoe Mines, suggest prices of US$15,000/t might be seen by 2025, due to restricted supply and bullish demand growth. These stocks, however, currently represent only 1.9
Total visible copper stocks (LME + COMEX + SHFE + Chinese bonded warehouses) amounted to just 560kt at the end of January, noted critical materials supply chain intelligence company Roskill—only 11kt more than the lowest recent stock level of 549kt in December 2019.
Tesla China, SAIC, Chery, Geely, Stunning Wall Motors, Changan, and BYD are a number of the largest participants to Chinese language car exports. These days, SAIC is the biggest Chinese language car exporter with its MG emblem contributing essentially the most to this stellar efficiency. 37 million automobiles.
The Chinese government’s potential moves, including lowering the Required Reserve Ratio (RRR) for major banks, could further energize metal demand and support copper prices. The report also highlights that global copper supply may face disruptions due to issues in major producing countries like Chile , Peru, and Panama.
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