Chinese Zinc and Copper Market Analysis

23 Thousand Tonnes Steady Demand Growth & Increasing Copper Intensity Increasing Copper Intensity with Booming Electric Vehicles² Chinese Copper Demand to Grow ~3-4%1 12,000 1,000 10,000 8,000 6,000 4,000 2,000 0 ■ Others ■ Appliances ■Transport ■Construction 2019E Machinery Power 2020E Thousand Tonnes 800 7 million EVs in 2025 600 2 million EVs in 2020 400 200 0 ■Plug-in CVs Battery Electric CVs ■Commercial Vehicles (CVS) ■Plug-in PVs Battery Electric PVs Passenger Vehicles (PVS) Teck

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