Jinchuan Group Cuts Nickel Prices on March 12th

SHANGHAI, Mar. 12 (SMM) -- According to data from China Association of Automobile Manufacturers (CAAM), China's automobile production and sales in February remained strong, continuing to grow rapidly from a year ago, though the two data fell on a monthly basis following fewer working days in the month for Chinese New Year holiday. From January to February, China's automobile sales exceeded 2.8 million mt, and a year-on-year growth of production and sales of both passenger and commercial vehicles was above 70%.
In February, China's automobile production was 1.206 million vehicles, down 25.30% MoM, but up 49.13% YoY; automobile sales were 1.212 million vehicles, down 27.20% MoM, but up 46.25% YoY.
In 2010, Chinese Central Government will continue to implement incentive policies to stimulate domestic automobile production and sales. In this context, China's automobile industry will keep its positive growth trend, with steady production and sales expected. Hence, SMM believes that lead-acid batteries used for automobiles will remain a major driving force for lead consumption in China in 2010.
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