Copper Demand Surges Amid Projected Supply Gap

Copper is in high demand due to its wide-ranging industrial applications and strategic importance for the world's energy transition. The metal has seen a surge in price, nearly doubling in the past year to hover near all-time highs.

A projected supply gap looms as new production struggles to keep pace with demand. S&P Global forecasts copper demand will reach 42Mt by 2040, a 50% rise from 2025 levels of around 28Mt.

Without significant increases in new production, the study warns that supply could lag by as much as 10Mt. The International Energy Agency also projects a 25% supply deficit by 2035.