As the world goes electric, net-zero emission goals will double demand for #copper to 50 million metric tons annually by 2035, according to a study from S&P Global. And BloombergNEF estimates that demand will increase by more than 50% from 2022 to 2040. #CoSoFinance https://www.bloomberg.com/news/articles/2022-09-21/copper-prices-fall-despite-signs-of-looming-crucial-metal-shortage
To put in perspective just how massive that shortage would be, consider that in 2021 the global #copper deficit came in at 441,000 tons, equivalent to less than 2% of demand for the refined metal, according to the International Copper Study Group. That was enough to send prices jumping about 25% that year. Current worst-case projections from S&P Global show that 2035’s shortfall will be equivalent to about 20% of consumption.