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<blockquote data-quote="Weather Man" data-source="post: 16599458" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3677201-copper-demand-from-auto-industry-expected-to-double-as-evs-ramp-up" target="_blank">Copper demand from auto industry expected to double as EVs ramp up</a></p><ul> <li data-xf-list-type="ul">Copper demand is expected to increase as more electric vehicle manufacturers ramp up production.</li> <li data-xf-list-type="ul">Morgan Stanley breaks down the impact of EVs on copper supply.</li> <li data-xf-list-type="ul">"Our commodity team assumes an average of 20kg of copper in the average ICE light vehicle and 75kg per copper in the average BEV. Applied to our de-adoption of ICE and our adoption of BEVs in our global auto forecast suggests a growth in copper demand for light vehicles (excluding infrastructure) to approximately 3.4 million tons by 2030 vs. around 1.6 million tons today for a CAGR just shy of 8%."</li> <li data-xf-list-type="ul">MS notes that the global copper market is a 22M ton market for refined copper with the total market being around 28M tons which includes 6M tons of scrap in between. MS sees a risk in the middle of the decade of a copper shortage and notes a copper substitute could be more than ten years out.</li> <li data-xf-list-type="ul">Copper prices (<a href="https://seekingalpha.com/symbol/HG1:COM" target="_blank">HG1:COM</a>) are already <a href="https://seekingalpha.com/symbol/HG1:COM/charting?interval=10Y" target="_blank">near their 10-year highs</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16599458, member: 137766"] [URL='https://seekingalpha.com/news/3677201-copper-demand-from-auto-industry-expected-to-double-as-evs-ramp-up']Copper demand from auto industry expected to double as EVs ramp up[/URL] [LIST] [*]Copper demand is expected to increase as more electric vehicle manufacturers ramp up production. [*]Morgan Stanley breaks down the impact of EVs on copper supply. [*]"Our commodity team assumes an average of 20kg of copper in the average ICE light vehicle and 75kg per copper in the average BEV. Applied to our de-adoption of ICE and our adoption of BEVs in our global auto forecast suggests a growth in copper demand for light vehicles (excluding infrastructure) to approximately 3.4 million tons by 2030 vs. around 1.6 million tons today for a CAGR just shy of 8%." [*]MS notes that the global copper market is a 22M ton market for refined copper with the total market being around 28M tons which includes 6M tons of scrap in between. MS sees a risk in the middle of the decade of a copper shortage and notes a copper substitute could be more than ten years out. [*]Copper prices ([URL='https://seekingalpha.com/symbol/HG1:COM']HG1:COM[/URL]) are already [URL='https://seekingalpha.com/symbol/HG1:COM/charting?interval=10Y']near their 10-year highs[/URL]. [/LIST] [/QUOTE]
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