Copper: Humanity’s first and most important future metal
Millions of feet of copper wiring will be required for strengthening the world’s power grids, and hundreds of thousands of tonnes more are needed to build wind and solar farms.
Alcoa Inc. (AA.N) Chief Executive Klaus Kleinfeld said on Tuesday that no one is happier to see copper prices climbing than he is, because that meant substitutions into aluminum would increase.
Speaking at The Aluminum Summit hosted by AMM, the head of the largest U.S. aluminum producer said: “I’m happy that the copper price has gone up. Every time it rises, those people who use copper are calling us, because they want to replace copper with aluminum.”
