Report Forecasts Doubling of Nickel and Copper Prices by 2035
A recent report highlights that the prices of nickel and copper could potentially double by 2035 as demand from electrification, construction and the global energy transition continues to outpace the ability of miners to add new supply. The report, compiled by Coface, warns that nickel, copper and aluminum markets could face average supply shortfalls of roughly 10 percent of the expected demand by the mid-2030s. Its findings are based on data on consumption, production and pricing from the International Energy Agency, the World Bank, LME, and the U.S. Geological Survey. The company argues that supply growth is likely to remain…