As 2025 witnessed the heavy rise of metals, including gold and silver outpacing major assets, 2026 is now supporting a similar pattern, with copper prices making headlines across the space. Copper price and its looming shortage scenarios are shaping a new macro pattern for investors to take note of. With the massive AI and EV boom, copper prices are now on the verge of a breakout, but its scarcity and supply dynamics could reshape its price trajectory on a rather unusual level. What is this development all about? Let’s find it in depth.
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Copper Shortage: Metal More Important Than Oil?
Copper shortage is a looming crisis, a development that the world has now begun to take note of. As a result, copper prices are now in the process of an overhaul and may end up skyrocketing based on the old concept of demand and supply dynamics. Per the latest post by the Kobeissi letter, the world economy may encounter a drastic copper shortage soon, with a deficit of 10M tons by 2040.
“A copper shortage is coming next. The world economy is projected to face a copper deficit of 10 million tonnes by 2040, equivalent to ~33% of current global demand. This comes as global copper demand is estimated to surge to 42 million tonnes by 2040. From 28 million tonnes in 2025.”
In addition to this, the platform shared how Asia alone may encounter a 60% deficit, as demand for EVs and grid upgrades continues to make use of the metal.
“Asia alone is expected to reflect 60% of total demand growth over this time. Driven by EV adoption and grid upgrades. At the same time, AI data center copper demand is set to surge 127% to 2.5 million tonnes by 2040. Meanwhile, supply is expected to peak at ~34 million tonnes in 2030 before declining to ~32 million tonnes by 2040. Copper is the next global strategic commodity.”
Future Price Structure and Value
According to Rashad Hajiyev, copper prices are now on the verge of doubling, as the metal is now projecting a strong demand projected in the near future. Presently the metal is currently sitting at $5.8273 at press time.
“Copper futures could break out from the 24-year rising channel anytime. Upon legitimate breakout, the price could nearly double within a very short period of time…”
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