Auto sales in June were expected to reach 2.45 million vehicles, up 34.4% m/m and 20.9% y/y, according to the China Association of Automobile Manufacturers (CAAM) forecast.
Sales are expected to reach 12 million vehicles in the first six months of 2022, down 7.1% year on year.
Due to the easing of the Covid-19 epidemic and China's stimulus policy, car sales are expected to rise significantly in June.
China's auto industry is expected to continue to grow in the next few years, which will also lead to an increase in demand for steel. In addition, renewable energy vehicles are becoming more and more popular and will drive demand for steel.
China's auto industry recovers, pushing steel demand up
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