In this series of notes, we aim to track and analyze high-frequency on- ground demand trends in China – market expectation on demand recovery has been largely cautious. In this note, we enclose weekly data from Mysteel, a consultant, on China aluminum ingot and billet production, inventory, and apparent consumption data during the week of 30th Oct to 5 th Nov 2025. Latest sector pecking order: copper > battery > gold > aluminum > cement > steel> lithium > thermal coal. Production – According to Mysteel, fro ...