AI demand could add 1 million tons to copper demand by 2030, says Trafigura

Copper demand linked to artificial intelligence and data centres could add up to one million metric tons by 2030 and exacerbate supply deficits towards the end of the decade, commodity trader Trafigura said.

The energy transition, which includes electric vehicles and renewable energy technologies, is expected to fuel a surge in copper consumption over the coming years as the world moves towards eliminating carbon emissions.

“If you look at the demand that is coming from data centers and related to that from AI, that growth has suddenly exploded,” said Saad Rahim, chief economist at Switzerland-based Trafigura, at the Financial Times Global Commodities Summit in Lausanne.