Copper supplies set to peak just as tech needs more

Concerns are mounting over copper supplies, with a fresh study warning that demand will likely outstrip production within a decade, threatening to constrain global technological advancement.

Electrification of industry, electric vehicles, and the AI-driven boom in IT infrastructure are all fueling demand for copper, used for everything from cabling to chip interconnects.

However, a study by financial analyst S&P Global estimates that worldwide production of the metal will peak in 2030 at 33 million metric tons, while demand is forecast to continue growing to reach 42 million metric tons by 2040 - a 50 percent increase from current levels, creating a supply shortfall of about 10 million metric tons without meaningful expansion.

The result? Soaring copper prices, making electrical goods and IT kit costlier to produce. The metal already hit a historical high of $5.84 per pound in late 2025, according to some sources.

Although S&P labels its report "Copper ...