One eye-popping prediction shows why copper prices could continue to surge for years to come

Coils, coiled copper wires, lie on pallets in a wire plant.

Marcus Brandt/picture alliance/Getty Images

• The AI infrastructure boom has helped drive copper prices to records.
• S&P Global predicts a yearslong period of rising demand.
• However, it also expects supply to be constrained through 2040.

Copper joined the mega rally in precious and industrial metals in 2025, but the gains might be far from over if recent forecasts for supply and demand prove correct.