Global copper demand outstrips supply, threatening electrification and industrial growth

By Morgan Bazilian & Adam Charles Simon – The Conversation

Demand for copper is surging because of demand from new technologies, but suppliers are struggling to keep up, and they are likely to fall further behind in the coming years, resulting in shortfalls globally. Even though copper prices are at historically high levels, the financial risk involved in mining means that prices will need to go much higher before mining companies see profit in addressing the supply shortage.

Copper is an essential material that is used in generating and distributing electrical power; cables, wires, motor windings, transformers and cooling equipment in data centers; and advanced manufacturing of consumer and defense products.