RE:Quick readI have not read credible reports of Aluminum as replacement for copper.
However, demand destruction is a standard economic principle that is too often ignored. At some price, copper prices will drive engineering and design changes in order to decrease project costs. Further some projects can be deferred or even cancelled based on revised economics.
Typically, those projects where the offending cost input (copper) make up a very large % of the overall budget are at most jeopardy.
For cu, very aggressive recycling kicks in at higher prices as well.
This all being said, some of us believe that the massive increase in electrical grid infrastructure requirements should support strong demand characteristics even at meaningfuly higher cu prices than observed today.
We will see......