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MNI China Daily Summary: Monday, October 14

EXCLUSIVE: China’s aluminium consumption growth will likely slow to slightly below 5% this year from 2023's 6% gain, as appetite cooled over Q3 amid the economic slowdown, and despite robust demand from the energy and transportation sectors, local analysts have told MNI.

DATA: Growth in M2 was 6.8%, a four-month high, up from August's 6.3% growth and beating the 6.4% forecast, People's Bank of China (PBOC) data showed. Banks extended CNY1.59 trillion in new loans in September to a three-month high, up from August's CNY900 billion. Total social financing rose by CNY3.76 trillion, rising from growth of CNY3.03 trillion in August.

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EXCLUSIVE: China’s aluminium consumption growth will likely slow to slightly below 5% this year from 2023's 6% gain, as appetite cooled over Q3 amid the economic slowdown, and despite robust demand from the energy and transportation sectors, local analysts have told MNI.

DATA: Growth in M2 was 6.8%, a four-month high, up from August's 6.3% growth and beating the 6.4% forecast, People's Bank of China (PBOC) data showed. Banks extended CNY1.59 trillion in new loans in September to a three-month high, up from August's CNY900 billion. Total social financing rose by CNY3.76 trillion, rising from growth of CNY3.03 trillion in August.

Keep reading...Show less