Assessing the supply risks of critical metals in China's low-carbon energy transition

The unprecedented low-carbon energy transition has heightened concerns about the security of critical metals (CMs) supplies that are essential for clean energy technologies. As the world's largest consumer and importer, China’s CMs supply may face significant challenges due to geopolitical uncertainties, price volatility, and other dynamics. Here, we introduce a risk-modeling framework to holistically gauge the multifaceted supply risks for 30 CMs embedded in clean energy technology spanning from 2008 to 2020. Our analysis indicates that approximately one-third of CMs supplies grapple with elevated risk, and half of these CMs are associated with electric vehicle manufacturing. These risks stem mainly from significant disruption potential (e.g., lithium and palladium) and substantial import reliance (e.g., nickel and niobium). Although China's overall CMs supply risk has remained relatively stable, the nation has grown increasingly susceptible to disruptions, especially with the surge in clean energy initiatives and associated price hikes. Our detailed analysis of the risk comparison reveals that China's supply risk for nine metals (e.g., copper and chromium) exceeds that of other countries that consume large amounts of CMs. Therefore, by adopting focused strategies related to metals, both governments and industries could benefit from global partnerships, strategic stockpiling, early warning mechanisms and sustainable supply chain management, paving the way for a smooth low-carbon energy transition for China.