Global copper demand seen rising 50% by 2040 as AI accelerates

Global copper demand could rise 50% by 2040, driven by AI data centers, EVs, renewables and defense needs, according to S&P Global. The firm warns of a potential 10 million metric ton supply shortfall without major investment. Analysts at Argus Media say strong China demand, AI growth and expected Fed rate cuts are fuelling bullish copper views for 2026.