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Copper Usage to Double in Next Decade-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
9/9/2019 - Copper exhibition -non-ferrous metals expo |
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WindPower Monthly reported that new wind power installations between 2018 and 2028 will use more than 5.5 million tonnes of copper more than double the amount used in the last ten years despite declining supplies and rising prices. Wood Mackenzie forecasts the wind industry will be the most copper-intensive form of power generation over the next decade as it looks to install 650GW of new wind capacity onshore and 130GW offshore by 2028.
Wind’s copper usage is expected to increase during this period, from a yearly average of 450,000 tonnes (450kt) up until the end of 2021 to 600kt per year in 2022 to 2028, the analysts predict.
China, Europe and the US wind markets will use the most copper over this period 110 kilo tonne, 80 kilo tonne and 35 kilo tonne per year, respectively.
While Wood Mackenzie forecast copper usage to increase, it also predicted a shortage in the mid-2020s due to a number of mines retiring. It said that "Investment needs to be made now in new projects so that projects can be sufficiently progressed and can close the implied supply gap.”
Meanwhile, with the wind power industry’s demand for the metal increasing and availability declining, the analysts forecast rising prices over the next ten years.
有色金属展-铜材展-2020年广州国际有色金属工业（铜业）展览会
-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
-Non-Ferrous Metal exhibition, 2020
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