The World’s Copper Squeeze Is Set to Intensify on AI and Defense Spending, S&P Says

The race for artificial intelligence and surging defense spending are set to intensify a projected shortage of copper as producers struggle to expand, according to a new study by S&P Global.

Demand growth is accelerating just as mine supply faces structural limits, raising the risk that copper becomes a bottleneck for economic growth and technological expansion, S&P Global wrote Thursday in a report backed by the mining industry.