Industry Newscopperdata centersminingelectrification
S&P Global Forecasts Copper Demand Surge
8.0
S&P Global said on Thursday that growth in artificial intelligence, defence and electrification will raise global copper demand to about 42 million metric tons per year by 2040, up from 28 million in 2025. The consultancy warned supplies could fall more than 10 million metric tons short annually without expanded recycling and new mining, citing data centers and defence spending as key drivers.
Key Points
- 1Forecasts copper demand rising to 42 million tonnes by 2040 from 28 million in 2025
- 2Cites AI, defence, data centers and electrification as primary drivers of metal consumption
- 3Warns over 10 million-ton annual shortfall without more recycling and new mining supply
Scoring Rationale
Strong official forecast with global scope and clear supply risk; limited novelty beyond updated methodology.
Sources
Public references used for this report.
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