Copper consumption in China's electric vehicle industry will jump fivefold by 2025

Copper consumption of electric vehicles and recharging stations in China is expected to increase about fivefold from last year by 2025, according to a strategist at BOCI.

China's copper consumption of electric vehicles and power stations will reach about 540000 tonnes in 2025, up from 110000 tonnes in 2020, according to the agency's global head of commodity strategy.

She believes demand will accelerate from around 2025 to 1 million tons in 2030 and 1.3 million tons by 2035.

The agency predicts that each electric vehicle uses 80 kilograms of copper and each switching station uses 6.8 kilograms of copper.

It predicts that copper demand in China's renewable energy sector will rise from 620000 tons in 2020 to about 728000 tons in 2030.

The renewable energy and electric vehicle industries will consume about 1.2 million tonnes of copper together by 2025, accounting for about 10 per cent of China's total copper consumption, she added.