Trafigura Forecasts 1 Million Ton Boost In Copper Demand By . . . Trafigura (a commodity trading company) forecasts that the demand for copper, largely driven by AI and data centers, could increase by as much as one million metric tons by 2030, potentially worsening supply shortfalls by this decade
Trafigura sees copper surging to $12,000 per tonne amid . . . Trafigura, one of the world’s largest commodity traders, expects copper prices to rise by a third from its current levels due to a global shortage and hit $12,000 per tonne within the next 12 months
AI could add 1 million tonnes to copper demand by 2030 . . . Estimates suggest that copper consumption for data centers will rise from 197,000 tonnes in 2020 to 238,000 tonnes in 2030 and further to 293,000 tonnes in 2040 The surge in demand, driven by AI
Awareness of copper supply gap still not meaningful . . . There is still not enough awareness among policymakers that the world needs more copper to achieve energy transition’s ambitious targets, Trafigura’s chief executive officer Jeremy Weir said
Trafigura CEO Says Copper Must Surpass $10,000 to Meet Demand In order to fill a potential supply gap of 8 million tons by 2034, mining companies need prices that are higher than $10,000 a ton and possibly as high as $12,000, says Trafigura Group Chief
Trafigura CEO expects 10 million tonne supply deficit in . . . Global commodities trader Trafigura sees a significant supply deficit in the copper market and a prolonged high-price cycle, its chief executive Jeremy Weir told the Fastmarkets Copper Seminar This article was originally published by Reuters on the 12 March 2021