Copper demand is only expected to accelerate.

In fact, according to BHP, demand will increase about 70% between 2021 and 2050.

All thanks to infrastructure needs, power grid demand, and data centers that support artificial intelligence. In addition, as noted by the Financial Times, “The world’s largest miners have been rushing to increase their exposure to high-growth copper assets as increased demand is expected to create a shortage.”

With regards to artificial intelligence data centers, BHP estimates that “the copper used in data centers globally will grow six-fold by 2050 – from around half a million tonnes a year of copper today, to around 3 million tonnes a year by 2050. That uplift is roughly equivalent to the combined annual output of the world's four largest copper mines today.”

Aside from AI, with growing demand for energy transition, the adoption of electric vehicles, the growth of the digital economy, and insufficient copper mine development, BloombergNEF says the copper industry will need an investment of up to $1.2 trillion in the next 25 years just to meet demand. In addition, copper is experiencing historic backwardation, according to Mining.com. All thanks to falling copper inventories, and potential U.S. tariffs.

In addition, copper price forecasts are still rising.

According to Chile’s Cochilco, it sees average copper prices in 2025 of $4.45 per pound and $4.55 per pound in 2026, both from a prior view of $4.30 per pound.

Analysts at Citi say copper could rally to $12,000 a metric ton over the next six to 12 months. The firm cited ““unprecedented mine outages, still strong demand and supportive macro trends,” as noted by Seeking Alpha.

All of which is a solid catalyst for copper stocks such as:

Freeport-McMoRan (FCX)