Part 6/10:
The robust global demand for copper is driven by several factors beyond U.S. tariffs. Hines pointed out that the surge in copper prices is largely due to mounting demand from sectors like artificial intelligence, renewable energy, and electric vehicle (EV) batteries. Data centers, which require enormous amounts of copper wiring and infrastructure, are proliferating worldwide, especially in the U.S. with its significant concentration of data storage facilities.
Renewable energy projects and battery manufacturing also increase copper consumption, as the metal is crucial in power generation and storage systems. This industrial demand, combined with stable supply constraints, creates a bullish environment for copper prices.