Electric vehicle sales projections pose challenges for copper supply, with a 10 million metric ton deficit possible by 2035, according to estimates
Andy Massey, Vice President of Procurement for Bonnell Aluminum, added that “China is the largest producer and the largest consumer of aluminum so anytime anything takes place in China we all listen.” As demand for electric vehicles and lower carbon transport grows, so does the demand for key metals like copper, aluminum, lithium and cobalt.A standard combustion engine vehicle uses 50 pounds of copper compared to an EV using 183 pounds. S&P Global Research predicts that by 2035 the U.S. will be at a 10 million metric ton per year deficit in copper, up from a current 4 million metric ton deficit, provided the move towards electrification continues on its current trajectory.
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