The future depends on copper, but a coming shortage makes it a ‘systemic risk’ to the economy and a strategic flashpoint, S&P Global warns

Copper has long been an economic bellwether as the metal is widely used across industries, but soaring demand is making it a strategic bottleneck that threatens growth, according to S&P Global.

In a report published Thursday, researchers estimated demand for the metal will jump 50% from current levels to 42 million metric tons by 2040, while supply will shrink in the coming years.

The result will be a shortfall of 10 million tons that represents a “systemic risk for global industries...