The New Oil? Why the World Is Chasing Copper

Copper prices are rising on a structural shift in demand driven by renewable energy, electric vehicles, power networks, and digital infrastructure, with global refined copper consumption reaching about 28.2 million tonnes in 2025. Supply is struggling to keep pace due to concentrated production in Chile, Peru, DRC, and China, declining ore grades, geopolitical risks, and long mine development timelines of 10-20 years. The demand-supply imbalance is reinforcing copper's status as a strategic resource for the coming decades.