Copper and aluminum will become more popular than oil – experts
In the near future, a number of non-precious metals will be more in demand than now popular commodities, experts predict. According to analysts at Jefferies Investment Company, China's energy transition will significantly change demand in the country - aluminum, copper, nickel and other metals will begin to replace steel, iron ore and coal. Eurasia Review also agrees with this point of view, as specialists expect that these types of metals will soon overtake products of the oil industry in terms of price. The company estimates that the price of copper, nickel, cobalt and lithium may set new records against the background of the desire to achieve zero emissions. The volume of their production up to 2040 will rise more than 4 times, and its total cost could compete with oil, experts predict. Copper will rise in price next year due to lack of supply, according to Jefferies. From September to November the level of imports of this metal in China showed growth and reached its highest point since spring. Aluminum in early December on the London Metal Exchange rose to a maximum price for the last 13 years.