CHINA AUTO: Vehicle output growth bolsters raw material prices in November

Chinese automotive production rose by 9.6% year on year in November, supporting prices of upstream materials such as steel and aluminium.

Carmakers in the country produced 2.85 million units in November, up by 9.6% from a year ago and up by 11.5% from the month prior, China Association of Automobile Manufacturers said (CAAM) on Friday December 11.
Auto sales totaled 2.77 million units, up by 12.6% year on year and up by 7.6% month on month.
As of November, China's auto output and sales have gained for eight straight months, out of which seven months posted annual growth rates above 10%, CAAM said.
Between January and November, Chinese auto output totaled 22.37 million units, down 3% from a year ago, compared with a 4.6% drop in the first 10 months of 2020.

In the same period, China's auto sales was 22.47 million units, down 2.9% year on year, which was 1.8 percentage points smaller than the loss in the first 10 months....

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