Copper demand derived from the shift to electric vehicles (EV) is expected to be constrained by availability of other key metals, including cobalt, a panelist said at Metal Bulletin's 31st International Copper Conference in Madrid on Wednesday March 7.
"That demand for copper will only be required if we can find other elements. If we don't have other things, we can't even produce the electric cars," Timm Biggs, the sector leader of metals & mining at Deloitte UK, said. Biggs predicts about 30 million EVs will be produced by 2030 - fueling demand for metals, including copper and cobalt. A EV contains around 80-100kg of copper used in component parts, such as wiring, compared with 20-30kg in conventional cars, according to...