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The metals industry is abuzz with a possible £31 billion takeover of Anglo American Plc by Australian giant BHP Group Ltd. Anglo has rejected the offer arguing that it’s a significant undervaluation.
All that expected growth has made copper more expensive. Prices are 50% higher today than they were before the pandemic. To avoid even more steep increases and the clean energy bottleneck that would come with them, there’s been a rush to find new technologies that can either boost the supply of copper or reduce its use.Copper is already in widespread use and increasing recycling rates could loosen the copper squeeze.
But opinions are divided on how much substitution is feasible. Substitution and reduction in use led to only about 1.8% decline in copper demand in 2023, according to DMM Advisory Group. On the other hand, the International Aluminum Institute estimates that swapping out copper in building wires and transformers could increase aluminum sales for those uses by 2% and 30% respectively.
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