AI Fuels Copper Surge in US
Copper prices have risen significantly due to increased demand linked to artificial intelligence and new energy sectors, coupled with a decline in off-market inventories in the United States and the transfer of large quantities to the U.S. through the futures market, leading to a sharp shortage in global supply. The price of copper reached record levels, surpassing $14,700 per ton on the London Metal Exchange and 110,000 yuan (approximately $16,400) in Shanghai, driven by higher demand from data centers and electric vehicles, with each vehicle consuming between 80 and 100 kilograms of the metal. This has put considerable pressure on Chinese smelters, which are experiencing narrowing profit margins and adjustments in raw material composition. Meanwhile, expectations remain high that copper prices will stay elevated over the long term, although the outlook remains unstable and dependent on U.S. decisions regarding tariffs on refined copper.
تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي
comments.heading