Trafigura: EVs, AI And Clean Energy to Massively Boost Copper Demand [Yahoo! Finance]
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Source: Yahoo! Finance
copper demand by 2035, Swiss multinational commodity trading company Trafigura has predicted . According to Graeme Train, Trafigura's head of metals analysis, one third of the 10 million tons of new demand will come from the electric vehicle sector, " A third is electricity generation, transmission and distribution, and the rest is for things like automation, manufacturing capex and cooling systems within data centers ," he said. A couple of weeks ago, Saad Rahim, Trafigura's chief economist, projected that AI alone has the potential to add one million tonnes per annum of copper demand by 2030, “ If you look at the demand that is coming from data centers and related to that from AI, that growth has suddenly exploded, ” said Rahim. ‘‘ That one million tonnes is on top of what we have as 4-5 million tonne deficit gap by 2030 anyway. That's not something that anyone has actually factored into a lot of these supply and demand balances.” the analyst added. Copper futures have rallied
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