Surge in Copper Demand due to EVs, AI, and Clean Energy
The surge in demand for copper, driven by technological advancements such as artificial intelligence, automation, and the shift towards renewable energy and electric vehicles, has been highlighted. Copper cables, which conduct electricity, are particularly in demand.
Graeme Train, the head of metals analysis at Trafigura, a Swiss-based company, estimates that a third of the 10 million tonnes of new demand will be generated by the electric vehicle sector. He also noted that another third will be used for electricity generation, transmission, and distribution. The remaining demand will come from areas such as automation, manufacturing capital expenditure, and cooling systems in data centers.
The rapid production of electric vehicles and solar panels, along with grid investment in Chin...