Multipolarity Multipolarity Advent Calendar: Day Eight
Dec 18, 2025
Join the duo as they unwrap fascinating insights about the geopolitical implications of metal prices. Discover how a US nickel's value could change with rising copper prices. 2025’s market reveals gold records and the strategic importance of rare earths amidst US–China tensions. With copper prices soaring, the impact of electrification and EV growth on demand is explored. Political shifts could dampen green targets, while China's massive copper consumption shapes the landscape. Uncover the geopolitical stakes of potential copper shortages in this engaging discussion!
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Copper Rally Driven By New Fundamentals
- Copper's price surged despite Western backsliding on electrification because fundamentals shifted elsewhere.
- Philip Pilkington highlights that macro demand drivers, not just Western climate policy, now explain copper's rally.
China Is The Real Copper Consumer
- China consumes almost three-fifths of global copper and is the primary demand driver.
- Philip warns that Chinese electrification, EV rollout, and manufacturing growth will keep copper demand rising.
EV Boom Will Multiply Copper Needs
- EV-related copper demand alone is expected to almost double by 2030.
- Philip emphasizes that rising battery and EV build-out will materially increase copper needs even without Western policy pushes.