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BERLIN European car registrations fell in February, industry data showed on Wednesday, as coronavirus lockdowns and accompanying uncertainty across Europe took a toll on sales.
New car registrations dropped by 20.3% year-on-year to 850,170 vehicles in the European Union, Britain and the countries of the European Free Trade Association (EFTA), figures from the European Automobile Manufacturers’ Association (ACEA) showed.
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Most European markets posted declines. Registrations in Spain registered a drop of 38%. Sales in France and Germany, fell by 21% and 19% respectively, while Italy reported a smaller drop of 12% in the month.
Mainstream media and the large mining companies are finally catching on to what we at AOTH have been saying for the past two years: the copper market is heading for a severe supply shortage due to a perfect storm of under-exploration/ lack of discovery of new deposits, clashing with a huge increase in demand due to electrification and decarbonization.
Dramatic price rise
Copper is trading over $4.00 a pound this year on rapidly tightening physical markets, rebounding economic growth especially in China, the top metals consumer, and the expectation that the era of low inflation in key economies may soon be over.
European new car sales drop by 20% year-on-year in February: ACEA
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