Base metals demand expected to benefit from green revolution – report

A report by market researcher CRU Group forecasts that demand for zinc, copper, and nickel will continue to grow in the next two decades, particularly in China where government stimulus may drive it to levels even higher than what was predicted in pre-pandemic forecasts.

The rest of the world, however, will continue to work towards recovering last year’s losses, particularly because covid-19 remains the key risk in the short term in developing countries.

Yet, the green revolution – despite accounting for less than 5% of global copper demand in 2020 – may throw some surprise punches and boost demand for the red metal and for nickel beyond expected levels, the report states.