In the most recent five-year plan, China appears to have rekindled its interest in biofuels, and it has also indicated it will make a significant push toward electric vehicles. This would increase the need for copper and for palladium for catalytic converters. Reuters has estimated that each new electric vehicle will require 105 kg of copper. This could add as much as 12 million tons to China’s copper needs! Even without OBOR, China has been working toward new electric grid construction that would effectively add the equivalent of the current US electric grid. That alone should leave copper demand on a steep upward slope.


In addition to the amount of infrastructure spending and the economic diversification that it would bring, we should assume further gains in per capita income, which should continue to expand food consumption.


David Hightower E: info@hightowerreport.com T: 001 312 786 4450


Steve Freed E: steve.freed@admis.com T: 001 312 242 7089


Published on November 8, 2017 29 | ADMISI - The Ghost In The Machine | November/December 2017


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