CITI'S TAKE 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 21st to 27th Aug 2025. Latest sector pecking order: aluminum > steel > copper > thermal coal > battery > gold > lithium > cement. Production – According to Mys ...