Copper: A Vital Metal for Green Energy
Copper is one of the most essential metals used in various industries, but its role in renewable energy has made it even more important. Copper is needed for solar panels, wind turbines, electric vehicle (EV) charging cables and EV charging stations. All of these are key components of the growing green energy sector. As the world shifts towards using more renewable energy, the need for copper is growing fast.
Apart from its use in green energy, copper is also heavily used in other industries like plumbing, electrical systems and home appliances. This ongoing demand from different sectors has pushed the price of copper higher. As a result, copper is becoming more valuable, and it’s likely to keep rising as green energy projects continue to expand.
Aluminium: A Metal in High Demand
Aluminium is another metal that is seeing a big rise in value. Just recently, aluminium prices hit their highest point since June 2022. This increase is partly due to economic sanctions placed by countries like the United States and the United Kingdom on Russia, which is one of the largest producers of aluminium in the world. With less aluminium coming from Russia, the global supply has been reduced, causing the price to go up.
Even though aluminium may not reach its all-time high from March 2022, the price has still gone up by nearly 12% in just the past month. One of the main reasons for this is the growing demand for aluminium in industries such as transportation, construction, packaging and electronics. Aluminium is lightweight, strong and resistant to corrosion, making it a popular choice in many industries. According to the World Economic Forum, the demand for aluminium is expected to grow by almost 40% by 2030. With more industries relying on it, aluminium prices are likely to continue rising.
A Sustainable Trend
The rising price of copper and aluminium is not just a short-term occurrence. The growing focus on renewable energy, along with the ongoing demand from industries such as construction and electronics, suggests that the demand for these metals will continue to grow. The green energy transition is a key driver behind this trend, and it’s likely to remain a significant factor in the years to come.
For more information on how these metals can benefit your investments, or to explore our scrap metal recycling services, contact 4G Metals today.