Indian Copper traded at Rs 442.75 per kg, up 0.11%. The prices tested a high of Rs 443.3 per kg and a low of Rs 442 per kg. President Donald Trump has prioritized two policy areas with profound impact on the national economy as well as national security: trade and critical minerals. The two issues unexpectedly intersect in the negotiations on an updated North American Free Trade Agreement — with positive implications for all three NAFTA nations.
Reports indicate that NAFTA negotiators from the U.S., Canada and Mexico may be nearing agreement on new rules on NAFTA's “auto rules of origin” provision that's meant to ensure that major parts of the vehicle are in fact manufactured in the U.S., Mexico or Canada. As any car-buyer knows, it's there on the window sticker, among a bewildering array of eye-straining fonts are columns showing which country produced what percentage of the vehicle.Copper is increasingly key to the cars of the future. The typical Electric Vehicle (EV) requires nine times more copper than its internal-combustion forebear. To put that into every-day perspective, a single electric car can contain as much as four miles of copper windings and wiring.
And that could be copper produced in North America. Right now, the U.S., Canada and Mexico are all among the world's top 10 copper-producing countries (Nos. 4, 8 and 10, respectively), collectively producing over 2 million metric tons a year.With copper usage in electric vehicles ready to redefine metals requirements in the automotive sector, the U.S., Canada and Mexico should ensure that the supply chain for copper inputs is part of the strategy to make North America's integrated supply chain — from mine to market — as competitive as possible.
Powered by Commodity Insights