The Time is Right
Supply and demand fundamentals, including the widespread adoption of EV and battery applications and new infrastructure spending, as well as rising inflation expectations indicate that a strong copper market is upon us and should persist for several years to come. This growing demand, a continued development of emerging economies driven by the growth of the middle class, and the needed shift towards a greener and more sustainable option for further global growth all support the current copper price level as well as continued expansion.
Looking back of the last decade, the low copper price of copper and base metals in general has been met with a lack of investment in new exploration and mine development. This has hampered the current supply of copper to the point where deficits are expected over the next few years. Despite recent price increases, supply will remain suppressed until new production can be brought online. The catch is that developing significant new copper mines can take 8 to 10 years, a longer timeline than some other secondary base metals. With warehouse stock levels just off their 10-year lows, a continued tight market is expected, putting sustained upward pressure on the price of copper over the coming years.
An Essential Part of our Everyday Lives
Copper is present in almost all the materials we use in our daily lives. It plays an important role in our homes, transportation, infrastructure, even our cars and mobile phones. It delivers electricity, cleans our water and key to sustainable development. It does not rust, breakdown or require maintenance making it the ideal material in plumbing, electrical, construction and infrastructure. It’s ability to be easily restored also makes it a choice material in a decorative function for jewelry, fixtures, statues, roofs and other architectural items.
Copper also plays an important role in our health as the metal is an antimicrobial trace element vital to the health of all living organisms. Copper enhances bone strength, red and white blood cell maturation, iron transport, cholesterol and glucose metabolism, heart muscle contraction, brain development and important during pregnancy and fetus development.
There is no substitute metal, and recycling cannot fill the void.
It’s Critical for Greener Future
Copper is essential in the EV revolution. The metal is used in all aspects from the batteries, wiring, charging stations and even the cars themselves. There is nearly 3 times as much copper in an EV that a regular vehicle! Copper also plays a large role in renewable energy generation as wind farms and solar farms require significant amounts of copper.
Copper’s ability to be recycled, again and again, without any loss in performance, is an important sustainable benefit. Recycling copper uses less energy than mining and offers the same benefits as newly mined copper and highlights the importance of copper in building a sustainable world.
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