This monopolistic position has not gone unnoticed in developed markets (DMs), where there is a growing sense of urgency to reassess and diversify their supply chains. The geopolitical risks associated with heavy reliance on Chinese manufacturing capabilities have become a focal point of concern, prompting these markets to explore alternative strategies to mitigate potential disruptions and ensure the stability of their green technology sectors.
The report by one of the world's leading financial institutions shows that global metals consumption is poised for significant shifts in the coming years. Firstly, the move towards re-shoring is set to boost metal consumption in developed markets (DMs) through heightened investment in fixed assets and an uptick in manufacturing activities.
Secondly, China's recent pullback on green technology investments and rising trade barriers may dampen its metals demand. Lastly, technological innovations in DMs are expected to alter the current materials mix, potentially leading to the use of different metals.
