Copper Prices Firm Near Record Highs on AI Grid Demand and Supply Disruptions

AI Infrastructure Supercycle

The transition of global power grids to support high-density AI data centers is creating an unprecedented pull on refined copper. Unlike traditional industrial cycles, this tech-driven demand is proving inelastic to current high price levels.

Mining Supply Headwinds

Operational challenges at the Viscaria mine and labor friction in the Andean copper belt are preventing a meaningful supply response. With LME stocks at critical lows, the market remains highly susceptible to any further logistical bottlenecks.