Trafigura Group’s head of industrial metals analysis, Henry Van, revealed that the spending plans of hyperscalers, companies that operate large-scale cloud computing and data-center infrastructure, could significantly boost copper demand. According to Van, the need for copper in AI infrastructure may surge to between 2.5 million and 3 million metric tons by 2028, up from an estimated 1 million tons this year.
The projections were shared during Bloomberg’s 2026 Base Metals event in London. Van emphasized that the rapid expansion of AI technologies is driving unprecedented demand for copper, a critical component in wiring and other infrastructure.
The forecast suggests a potential tripling of copper usage in just two years, highlighting the metal’s pivotal role in supporting the growth of artificial intelligence. This surge in demand could have significant implications for the metals market and global supply chains.