Energy Transition Efforts to Keep Demand for Metals High

Demand for metals that are crucial for energy transition efforts around the world is estimated to keep growing for decades to come, according to a World Bank report.

The report says even though demand growth for other commodities like grain is expected to drop in the next 30 years, metals will remain in high demand. Countries that export them will have huge gains, the report further argues.

As countries increase efforts to adopt low carbon power generation, a permanent increase in demand for copper, nickel, cobalt, and lithium that are crucial for energy transition is on the horizon, while the demand for fossil fuels will fall eventually.

The long-term outlook for metals and other commodities has deep implications for developing nations, two-thirds of which are reliant on raw-material exports for much of their income.

The World Bank has urged the commodity dependent states to build “rainy-day funds”, avoid debt accumulation and shy away from protectionist trade policies when price volatility looms.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now


Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today


Subscribe to Top Insights Today

Subscribe to Executive Newsletter Top Insights Today

The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights

Join the ranks of global executives and subscribe to Top Insights Today

Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

NDRC Gives Blessing for Shenzhen Economic Reforms

China’s state planner National Development and Reform Commission (NDRC) has allowed the southern city of Shenzhen to implement economic reforms in areas such as market access for cross border data trading and an electronics trading platform. NDRC’s guideline details the areas of focus for the city. 

Chile Explores Green Hydrogen Opportunities

Chile’s state development office Corfo signed agreements with three companies to fund industrial green hydrogen production, with a view of doubling current world output. 

Dubai Set to Spend Big to Keep the Economy Going

Dubai announced another expansionary budget for 2022 to offset the impact of the pandemic and keep its economic growth trajectory. Dubai Crown Prince Sheikh Hamdan bin Mohammed said spending has been set at $16.3 billion. 

Stay informed

error: This content is protected !!