The Rising Influence of Rising Affluence

[n4807g]

isn't growth of copper use tied directly to the availability of additional lithium?

I don't believe Cu is directly linked to Li demand, although there is an obvious link to EV demand, but Cu is clearly needed to build out new energy production and transmission. See post 26736.....excerpt:

To put that figure in perspective, 9.7mt is equivalent to nearly a third of current refined consumption, says Woodmac, a Verisk business (Nasdaq:VRSK). That is also the equivalent of putting a new La Escondida, the world’s largest copper mine by a country mile, into production each year.

The reality on the ground is far removed from the copper demand created by electric cars and renewable energy generation and storage.

Woodmac figures show despite historically strong copper prices, mining project approval rates have dwindled to cyclical lows. In the first half of 2022, the volume of committed copper projects totalled an average annual production of just 260,000 tonnes per year.

There will be a supply shortfall similar to Li for years to come. $10...probably not, I'll build my position slowly but consistently. Cu has a bright future assuming the world is committed to abandoning fossil fuels.