Projected Global Copper Deficit Expected by 2026 Amid Data Center Growth

The demand for copper is anticipated to rise significantly due to the increasing capacity of AI data centers, which currently utilize approximately 27 tons of copper per megawatt for essential functions such as power delivery and cooling. In the past year, the United States added around 11,300 megawatts of data center capacity, contributing to a growing need for copper.

This surge in demand is projected to lead to a global copper deficit of 320,000 tons by 2026. As a result, copper prices have experienced an upward trend, positively impacting the stock performance of mining companies, including Freeport-McMoRan. The ongoing expansion of data centers is expected to continue driving this demand, further influencing the copper market.

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Source: KLEA News