Along with experiencing a short-term supply shortage, copper is set to undergo a 'generational shift' in demand as decarbonization ramps up, according to BNY Mellon.
Beyond the quantities of copper that are likely to be required to achieve net-zero goals, Chu also highlighted a decline in the grade of the metal over the last 20 years, as well as the length of time it takes to get major mining projects online.
"When you look at the long-term secular story, you can just see strong demand. A lot of people focus on lithium as the kind of energy transition metal, but I think we should be much more focused on copper, because I think that is the real pinch point, the real choke point for the energy transition story."
"But there's only so much those markets can do because the incremental demand from renewables isn't a small bump up in demand, it's almost a multiyear tsunami of demand coming through that we're not thinking about, so it's going to be all hands on deck but absolutely, the price has to go up," Chu said.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
High surf warning in effect along Bay Area coast from North Bay to Monterey BayA high surf advisory from the National Weather Service is in effect for San Francisco and Coastal North Bay areas, as well as south Monterey Bay, with waves forecast to be between 18-22 feet along with dangerous currents.
Leer más »
Super Bowl bingo: Play along as the Eagles take on the ChiefsAll week long we've been bringing you games to help pass the time until the Super Bowl kicks off. Now, we've got one you can play during the actual game: Super Bowl Bingo.
Leer más »
Safety crosswalks to be installed along Zarzamora Street thanks to $4.5M federal grantZarzamora Street is one of San Antonio’s most dangerous roads, especially for people who walk along it, according to Vision Zero, the city’s transportation department.
Leer más »
Top Wall Street analysts like these stocks for the long haulTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Costco and Amazon.
Leer más »