The sudden explosion of AI and data centers could lead to a further tightening of the copper market.
The chief economist at commodity trading giant Trafigura has warned the copper market could tighten further as a result of artificial intelligence. Speaking at the Financial Times Commodities Summit in Switzerland, Trafigura’s chief economist Saad Rahim said that growth has “suddenly exploded” as a result of the proliferation of global data centres. By 2030, this could amount to an additional 1m tons of need, Rahim said and that the figure is “on top of a 4-5m ton deficit gap by 2030 anyway”.
Copper, meanwhile, rallied to its highest price point in over a year last week, hitting nearly $9,400 £7,444, despite lingering concerns about the state of the global economy. The energy transition has been fuelling the drive for copper as a key component of electric vehicles and renewable energy technologies.
Data Center Commodities Copper Market Copper Shortage
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