‘Copper is the new oil,’ and prices could soar 50% as AI, green energy, and military spending boost demand, top commodities analyst says

Copper is emerging as the next indispensable industrial commodity, mirroring oil’s rise in earlier decades, a top commodities analyst said.

This time around, new forces in the economy, namely the advent of artificial intelligence, explosion of data centers, and the green energy revolution, are boosting demand for copper, while the development of new weapons is adding to it as well, according to Jeff Currie, chief strategy officer of Energy Pathways at Carlyle.

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