China's Auto Sales Dropped 15.2% YoY in February, CAAM Reports

The Ministry of Commerce and eight other departments jointly issued the Notice on Several Measures for Cultivating and Expanding Consumption in the Automotive Aftermarket. The measures cover six major areas and 17 specific actions, including standardizing and developing automobile modification in an orderly manner, supporting the development of the RV and camping industry, fostering new business forms for traditional classic cars, optimizing the supply of automotive repair and insurance services, actively developing automotive racing sports, and promoting the innovative and integrated development of car rental.

Some of the European Union’s top cobalt users warn that planned rules to protect workers’ health will instead threaten the bloc’s push to bolster its mineral supply chains and industries like energy and defense. The European Commission will on Tuesday decide whether to approve legislation to reduce workers’ exposure to cobalt dust and particles to safeguard against cancers and other respiratory illnesses. But companies involved in the supply chain say the proposed limits are too strict, costly and challenging to meet, and risk closing businesses and diverting investments away from the EU.

Sherritt International (TSX: S) has begun shutting down its Fort Saskatchewan refinery after expanded US sanctions on Cuba halted the feedstock supply needed to keep the facility in Alberta, Canada running. The Toronto-based nickel and cobalt producer said the transition follows previous guidance that refinery operations would continue only until mid-June based on available inventory. The company has implemented shutdown procedures and will retain the personnel and resources required to keep the facility in a safe and secure state while operations remain suspended. Sherritt said it is preserving cash, managing costs and preparing the refinery for a potential restart while carrying out maintenance work during the shutdown. The shutdown marks the latest fallout from Washington’s tougher stance on Cuba and highlights the vulnerability of supply chains that depend on the island’s mining sector. Sherritt mined nickel and cobalt at its Moa joint venture in eastern Cuba and processed the material at its refinery near Edmonton.