Insight
Copper under an accelerated energy transition 1.5 °C scenario
Report summary
Copper has been at the forefront of all discussions surrounding the need to ramp-up metals supply to deliver on the aspirational energy transition-related goals. The uptake of rapid uptake of copper-intensive clean technologies such as solar, wind, energy storage and electric vehicles as well as related supporting infrastructure including the requirement to upgrade electricity grid networks, will underpin future copper demand besides the conventional end-uses. The impact to demand will be even larger if the deployment of these technologies is faster under the AET-1.5 scenario compared to the base case (ETO). Our analysis indicates that cathode consumption would be 3.7 Mt higher in 2032 under AET-1.5 versus the ETO. This translates into a 9.7 Mt requirement by 2032 for new copper supply from mining projects yet to be sanctioned compared to 6.5 Mt under our base case (ETO).
Table of contents
- What are the implications for copper demand?
- How will the supply side respond?
- Scrap use will rise under AET-1.5
- What does and AET-1.5 scenario mean for prices?
Tables and charts
This report includes 2 images and tables including:
- Supply gap under a base case and AET-1.5 demand scenario
- Copper price forecast: AET-1.5 and Base Case scenarios
What's included
This report contains:
Other reports you may be interested in
25 July 2022
Cathode and Precursor market under an accelerated energy transition 1.5 °C scenario
Insight
Cathode and Precursor market under an accelerated energy transition 1.5 °C scenario
Following the AET-1,5 scenario will require all companies involved to work together to meet the ambitious goal of carbon neutrality
$1,05025 July 2022
Li-ion batteries under an accelerated energy transition
Insight
Li-ion batteries under an accelerated energy transition
Lithium-ion batteries are indispensable for the energy transition, but deficiencies will appear upstream if warming is limited to 1.5˚C
$1,05009 August 2022
Thermal coal outlook under the accelerated energy transition scenario
Commodity Market Report
Thermal coal outlook under the accelerated energy transition scenario
Global seaborne thermal coal demand would be 68% lower than base case by 2050 under a 1.5-degree pathway.
$6,750