- Write by:
-
Friday, February 17, 2023 - 15:49:05
-
299 Visit
-
Print
Mining News Pro - Higher prices and more government support will be needed for recycling to ease the next copper shortfall, Australian bank Macquarie said.
As demand increases due to advancing electrification, with primary production limited due to underinvestment, the market is predicted to drop to a surplus of 3Mtpa by 2030.
About 9 tonnes of copper are recycled every year, compared to a current demand of 31 million tonnes per year.
For years, commodities experts have warned of a copper crunch.
BloombergNEF estimates that demand will increase by more than 50% from 2022 to 2040.
“Copper typically is used as a construction metal for wiring for building, wiring for machinery and what not, but if we look at the decarbonization net zero energy transition trend, copper is the new oil,” Al Chu, who manages the BNY Mellon Natural Resources fund, told CNBC.
Copper has the longest recycling history of any material. It is estimated that in the last one hundred years, two-thirds of the 690 million tonnes of copper produced are still in productive use.
On average, copper products contain more than 30% recycled content, according to the Copper Alliance.
The production of recycled copper consumes 85% less energy than that of primary copper.
Short Link:
https://www.miningnews.ir/En/News/622692
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
No comments have been posted yet ...