Global Metals & Mining_ Strong start to TSF for the year in China (Jan’25_ +9%y_y), a record new TSF in a holiday-impacted month

V i e w p o i n t | 14 Feb 2025 12:48:44 ET │ 9 pages Global Metals & Mining Strong start to TSF for the year in China (Jan'25: +9%y/y), a record new TSF in a holiday-impacted month CITI'S TAKE Inflection points in metals demand in China has correlated with inflection points in trailing 6-month TSFs in the past. Jan'25 new TSF at 7.06trn RMB was up 9%y/y, and the strongest new TSF number on Record. Note January is usually the strongest month for new TSF with only 16% of annual number happening that month. T ...