Energy transition is driving the demand!

Well, copper prices took a breather yesterday in their worst single-day performance over the year to date, as the market decided to cash in on the commodity’s recent rally. Still, copper remains up nearly 22% in the year to date.
Copper is a critical input for renewable power generation like wind turbines, solar panels, and batteries. It’s also essential for electrical wiring for the grid. Global power grid capacity will need to double by 2050 to meet increased electricity demand, requiring an additional 427 million metric tons of copper. Copper is a key component in electric vehicle (EV) batteries and motors. EVs use up to 4X more copper than gas-powered cars.
Copper stocks remain the biggest part (21%) of the SUNARES Fund portfolio, followed by Battery metals (18%), Gold stocks (17%) and Silver stocks (11%). Yesterday the solar stocks have been supporting the fund for a long time and these should also bring a big recovery potential in the future. The Fund (www.sunares.com) is up 9.21% ytd as per May 21st.

https://www.mauldineconomics.com/global-macro-update/the-investment-cases-for-copper#share