[Cu] Forecast of Copper Price Next Week

BEIJING,&nbsp;May 11&nbsp;-- Sales of China's domestically made vehicle set a record high of 1.153 million units in April, up 25 percent from a year earlier, the China Association of Automobile Manufacturers (CAAM) said Friday. 
&nbsp;&nbsp;&nbsp; This represents an increase of 3.91 percent from March. In March, sales rose 5 percent year-on-year to 1.11 million units. 
&nbsp;&nbsp;&nbsp; Automakers produced 1.157 million motor vehicles last month, up17.9 percent year-on-year, according to CAAM. It was 5.61 percent higher than March. 
&nbsp;&nbsp;&nbsp; CAAM said the April figure showed the country's auto industry had seen signs of recovery as the government's stimulus policies began to have an effect. 
&nbsp;&nbsp;&nbsp; The association said the continuous pick-up in passenger car sales was bolstered by government stimulus policies. China unveiled a support package for the auto industry early this year, cutting purchase taxes for cars with small engine capacities and providing subsidies to rural purchasers. 
&nbsp;&nbsp;&nbsp; In the first four months, motor vehicle sales hit 3.832 million units, up 9.4 percent year on year, while a total of 3.725 million units were produced, up 6.4 percent, according to CAAM. 
&nbsp;&nbsp;&nbsp; Passenger car (sedans, SUVs and MPVs) sales in April rose 37.37percent from a year earlier to 831,000 units. The March figure stood at 772,000 units. While commercial vehicles (busses, trucks and pick-ups) fell 4.53 percent from March to 322,100 units in April, but rose 1.38 percent from a year earlier. 
&nbsp;&nbsp;&nbsp; Passenger car sales in the first four months climbed 15.09 percent from a year ago to about 2.83 million units. Production totaled more than 2.69 million units, up 9.75 percent year on year.
&nbsp;&nbsp;&nbsp; (Source: Xinhua) &nbsp;