CHINA AUTO: Chip shortage weighs down vehicle output, sales in July

Chinese automobile production and sales figures continued to fall in July 2021, on both a monthly and an annual basis, although figures for vehicle exports and new energy vehicles hit record highs, the China Association of Automobile Manufacturers (CAAM) has said.

Carmakers in China produced 1.86 million units in July, down by 4.1% month on month and by 15.5% year-on-year. Sales came to 1.86 million units, down by 7.5% month on month and by 11.9% year-on-year.
CAAM said that the main reasons for the decline in output and sales in July were the high comparison figures for July 2020, the enforcement of new emissions regulations, and the tight supply of semi-conductor chips for onboard electronics.
Despite the overall fall in automotive output and sales, China's exports continued to show upward momentum, hitting another record high.
CAAM data showed that carmakers in China exported 174,000 units last month, up by 9.8% month on month and by 179.5% year-on-year.

The country's output and sales of new energy vehicles (NEVs) also hit a new record high. NEV output increased by 14.3% from June to...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold