Dr Copper Panacea, page-2

“And China’s economy is that much bigger than it was eight, nine years ago.”But copper won’t just be a 2021 story.Looking forward, the rollout of electric vehicles is going to be a huge demand driver for copper.“You need roughly 3.5 to 4 times as much copper in an EV than you do in a standard internal combustion engine,” Warren says.“Copper is a roughly a 22 million tonne a year market today. Based on fairly conservative assumptions, copper in EVs will go from near zero to at least 2 to 3 million tonnes by 2030.“10 years is not very far away. “And it’s not just about electric vehicles. The broader decarbonisation thematic requires a complete re-tooling of our power grid.That will also require a considerable amount of copper.“The investment that is required in global power grids is really quite extraordinary. It’s difficult to wrap your head around,” Warren says.“All of this is hugely supportive of copper from a demand perspective.”