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15 May

Data centre-driven copper demand much lower than believed: Macquarie

Data centres and artificial intelligence (AI) may drive much less copper demand than it is currently projected, analysts warn. Industry forecasts are ranging from 500,000 tonnes/year to over 2 million t/y by 2030, but Macquarie estimates it will be around 200,000 t/y over the same period. “We estimate the increase in copper demand to be 60,000-140,000 t/y by 2030 versus current demand,” the analysts comment in a note. “This predominantly relates…
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