Copper market: what next as the world exits lockdown?

The copper team delivered the attached presentation entitled “Copper market: what next as the world exits lockdown?” as part of Wood Mackenzie’s Indonesia Energy & Natural Resources Virtual Series on 1 July and Wood Mackenzie’s India Cross Commodity Virtual Series on 8 July. Key takeaways: • Current uncertainty lies in the magnitude of the downturn and the pace at which the global economy will recover - both copper demand and supply are being impacted • Copper demand growth opportunities are supported by the trend toward decarbonisation, underpinning the need for renewable energy, electromobility and energy efficiency • There is still a need for new mine supply. But delivering the volume required will be challenging. • Project quality is a hurdle, with lower grades, higher capital and operating costs; and many possible projects face development challenges related to grade, location and to above-ground risk factors