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COPPER
- The Most Essential Metal for Renewable Energy: According to the Copper Alliance, renewable energy systems can require up to 12x more copper compared to traditional energy systems. Copper demand for annual solar photovoltaic installations could more than double by 2030.
- EVs can require up to 4 times as much copper as gasoline vehicles: EVs require copper in batteries, winding, wiring and charging infrastructure.
- Operating mines and proposed projects are not meeting projected demand: "We have deficits over the course of 2021 and next year. Inventories will be run down to very low levels, we believe, by the middle of 2022.” —Nick Snowdon, Commodities Strategist, Goldman Sachs
(Copper stocks peaked in May. I recently bought $FCX at $34.50 mainly because it's probably the safest way to enter a position in copper, but also as a hedge against tech stocks.)
Visual Capitalist
Visualizing Copper’s Role in a Low-Carbon Economy
As the world moves towards renewable energy technologies, copper will remain the most widely used metal. Here’s a snapshot of copper’s role in a low-carbon economy in this piece from our sponsor Teck.
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