Copper Demand Growth from AI and Supply Issues Lead to Over 1-Year Price High
• AI and data centers' growth is creating significant copper demand.
• Copper market faces a 4-5 million ton deficit by 2030.
• AI could require an extra 1 million tons of copper by 2030.
• Copper hit a over 1-year high price of nearly $9,400 per ton recently.
• China, a major copper producer, is considering production cuts due to raw material issues.