🌐A GLOBAL COPPER SHORTAGE IS COMING
Global copper demand is projected to rise from 28Mt today to 42Mt by 2040, while supply peaks around 2030, creating a 10Mt annual deficit, nearly 30% of demand.
Asia accounts for 60% of growth driven by EV adoption and grid upgrades, while AI data centers alone lift copper demand +127% to 2.5Mt.
S&P Global warns that AI and defense could push total demand up 50% by 2040, with mining and recycling unable to keep pace.
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