Copper stays near records as AI data centers and electrification tighten the supply

Demand is surging from AI and electrification

Copper prices are hovering near record highs, powered by AI-driven data centre demand, accelerating electrification, tight mine supply and geopolitical disruptions. After a pullback from recent peaks, prices are consolidating at elevated levels. Market analysts say structural demand from EVs, renewables and infrastructure should keep the long-term outlook bullish even as short-term volatility continues.