The world is on track for a copper shortage that would pose a “systemic risk” to global economic growth, driven by the energy transition and the booming artificial intelligence sector’s demand for the red metal, according to S&P Global.
The looming deficit is forecast to reach 10mn tonnes — equivalent to almost one-third of current global demand — by 2040, in the absence of a “meaningful expansion of supply”, said the data group in a report on Thursday.
This constitutes a “systemic risk for global industries, technological advancement and economic growth”, it warned.
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