{"id":564028,"date":"2021-08-03T13:46:19","date_gmt":"2021-08-03T13:46:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/we-quite-literally-just-cant-get-enough-of-copper\/"},"modified":"2021-08-03T13:46:19","modified_gmt":"2021-08-03T13:46:19","slug":"we-quite-literally-just-cant-get-enough-of-copper","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/we-quite-literally-just-cant-get-enough-of-copper\/","title":{"rendered":"We (quite literally) just can\u2019t get enough of copper"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Market strategists have been warning of a shortage in copper that could come <\/strong><strong>knocking our doors<\/strong> <strong>sooner than later<\/strong>. This is because the essential metal is in huge demand despite soaring prices, thanks in no small part to its importance to green industries of the future including electric vehicle production and solar energy.<\/p>\n<p><strong>Why is this a problem worth noting? <\/strong>We\u2019re yet to see the new, higher prices translate into new supply. If that doesn\u2019t happen, the world runs the risk of an unavoidable shortage \u201cwith dire consequences,\u201d CNBC suggests (<a href=\"https:\/\/www.cnbc.com\/video\/2021\/07\/30\/why-a-looming-copper-shortage-has-big-consequences-for-the-green-economy.html\">watch, runtime: 8:52<\/a>).<\/p>\n<p><strong>The boom: <\/strong>Copper is one of the most important raw materials in the global green transition. Electric cars need nearly four times more copper than their traditional counterparts, and renewable energy power grids \u2014 on which much of the world will rely in the future \u2014 also run on more of the metal than the global industry currently produces. All of this means that <strong>demand is likely to continue rising<\/strong> as we move deeper into the century.<\/p>\n<p><strong>Prices have spiralled since the global pandemic erupted:<\/strong> The futures price has more than doubled since March 2020, reaching a record high in May thanks to widening supply-demand gap.<\/p>\n<p><strong>This isn\u2019t all down to countries doubling down on green technologies:<\/strong> Pandemic-related trade disruption, local problems in major copper-producing countries and stimulus-driven speculation have all contributed to throwing supply-demand dynamics out of whack.<\/p>\n<p><strong>This could jeopardize ambitions to clean up the planet: <\/strong>The International Energy Agency <a href=\"https:\/\/www.ft.com\/content\/2f709342-3070-4b75-8924-3d9190f5c0c7\">warned in May<\/a> that heightened prices could impede the transition to green technologies. Demand for copper and other metals will quadruple if the world is to meet the Paris climate goals, a trajectory that the agency\u2019s executive director said will not be sustainable at current price levels.<\/p>\n<p><strong>We just need to mine a little harder: <\/strong>It\u2019s not that we don\u2019t have enough copper. In fact, humans have only mined some 12% of all copper on the planet throughout history, and much of what has been mined gets circulated and reused. The real issue is that <strong>the current mining and recycling infrastructure isn\u2019t capable of standing up to <\/strong>the coming boom expected to be brought about by the so-called \u201cgreen energy revolution.\u201d<\/p>\n<p><strong>Local issues:<\/strong> Chile and Peru provide almost 40% of the world\u2019s supply of copper but recent events are <a href=\"https:\/\/www.ft.com\/content\/49c19d8f-c3c3-4450-b869-50c7126076ee\">slowing both these countries\u2019 abilities to scale production<\/a>. Chile this year introduced new environmental rules and could introduce a new royalty, both of which reduce margins and make copper mining less attractive to investors. Over in Peru, a USD 1.4 bn copper project that was supposed to start operating in 2011 still hasn\u2019t been finished due to local opposition.<\/p>\n<p><strong>SOUND SMART\u2013 <\/strong>The copper market is typically considered a proxy or indicator for economic growth because of how commonly used it is. Industry bums often jokingly call the metal \u201cDr. Copper\u201d to emphasize the idea that the metal might as well hold a PhD in economics. As long as demand for copper is high and supply is keeping pace, news of a copper boom is good news for the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market strategists have been warning of a shortage in copper that could come knocking our doors sooner than later. This is because the essential metal is in huge demand despite soaring prices, thanks in no small part to its importance to green industries of the future including electric vehicle production and solar energy. Why is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":564029,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[317,633,246,150,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-commodities","tag-enterprisepm","tag-green-economy","tag-renewable-energy","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"f7ca7f3d-c837-4934-8a46-376b5f810354","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/354.jpg","photo_position":"above","related_issue":[564016],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>We (quite literally) just can\u2019t get enough of copper - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/we-quite-literally-just-cant-get-enough-of-copper\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We (quite literally) just can\u2019t get enough of copper\" \/>\n<meta property=\"og:description\" content=\"Market strategists have been warning of a shortage in copper that could come knocking our doors sooner than later. 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But the correlation between copper prices and EM equities as measured by the MSCI index have risen to a six-year high\u2026","rel":"","context":"In &quot;THE MACRO PICTURE&quot;","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/10\/492.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":552753,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/27\/the-gender-roles-of-leadership-and-mentoring-copper-prices-are-way-down-even-though-theres-a-supply-pinch\/","url_meta":{"origin":564028,"position":2},"title":"The gender roles of leadership and mentoring + Copper prices are way down, even though there\u2019s a supply pinch","author":"enterpriseam admin","date":"27 September 2022","format":false,"excerpt":"Paternalistic leadership \u2014 done the right way \u2014 can offer great benefits to a business and its management: A paternalistic leadership approach associated mostly with leaders in Asia, Latin America and the Middle East, offers a number of benefits that Western leaders need to take note of, the Financial Times\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/589.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565824,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/06\/the-global-chip-shortage-has-officially-hit-our-local-auto-industry\/","url_meta":{"origin":564028,"position":3},"title":"The global chip shortage has officially hit our local auto industry","author":"enterpriseam admin","date":"6 May 2021","format":false,"excerpt":"Major car manufacturers including GB Auto have been forced to slash production due to the global chip shortage, Khaled Saad, who heads the Egyptian Association of Automobile Manufacturers, reportedly told the local press. Car makers weren\u2019t able to get their hands on enough electronic control units (ECUs) in recent months,\u2026","rel":"","context":"In &quot;SPEED ROUND: AUTOMOTIVE&quot;","block_context":{"text":"SPEED ROUND: AUTOMOTIVE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573355,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/29\/developing-economies-are-threatened-with-distress-as-they-struggle-to-pay-down-their-growing-debt-piles\/","url_meta":{"origin":564028,"position":4},"title":"Developing economies are threatened with distress as they struggle to pay down their growing debt piles","author":"enterpriseam admin","date":"29 July 2020","format":false,"excerpt":"Growing debt piles are becoming increasingly insurmountable for some developing economies as they struggle to find the resources to repay bns of USD borrowed from private investors over the past decade, the Wall Street Journal says. The pandemic has made matters worse, but these countries were already ill-prepared to both\u2026","rel":"","context":"In &quot;THE MACRO PICTURE&quot;","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/244.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558631,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/elsewedys-united-metals-secures-usd-25-mn-in-funding-from-ebrd\/","url_meta":{"origin":564028,"position":5},"title":"ElSewedy\u2019s United Metals secures USD 25 mn in funding from EBRD","author":"enterpriseam admin","date":"19 August 2021","format":false,"excerpt":"ElSewedy\u2019s United Metals Company subsidiary lands USD 25 mn loan from EBRD: The European Bank for Reconstruction and Development (EBRD) has agreed to provide to ElSewedy\u2019s subsidiary United Metals Company (UMC) a two-year, USD 25 mn facility to finance the company\u2019s working capital needs and provide funding to source raw\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=564028"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564028\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564029"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564028"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564028"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}