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Abstract
Long-term demand for metals like copper, nickel and aluminium will be driven by the green transition, but near-term prices for critical minerals (for example lithium, cobalt and graphite) will remain subdued until at least 2026 amid oversupply and weaker than expected demand. The global nickel market will remain temporarily oversupplied in the short run, but we continue to forecast rapid demand growth from downstream applications, particularly stainless steel production and EV batteries. Demand for certain base metals, critical minerals and rare earths used in clean energy technology-notably copper, nickel, zinc, cobalt, lithium, graphite and silicon-will increase twofold, and in some cases up to fivefold, by 2030, according to the International Energy Agency (IEA).
Details
Stainless steel;
Rare earth elements;
Graphite;
Nickel;
Trade agreements;
Demand;
Clean technology;
Copper;
Commodities;
Clean energy;
Cobalt;
Lithium;
Prices;
Energy transition;
Energy technology;
Stainless steels;
Investor behavior;
Raw materials;
Steel industry;
Critical minerals;
Strategic materials;
Tariffs;
Aluminum;
Heavy metals