By Polina Devitt and Pratima Desai

LONDON, Dec 12 (Reuters) – Copper is closing in on the $12,000 a metric ton mark as expectations of soaring demand from data centres that power artificial intelligence and tight supplies collide with shortages outside the United States.

Valued for its exceptional ‍electrical conductivity, copper wiring is vital in power grids that feed data centres, electric vehicles and the infrastructure needed for the energy transition.

Copper prices are up 35% so far this year and heading for their largest gain since 2009, due to mining disruptions and stockpiling in the U.S. On Friday, they touched $11,952 a ton.

“Investors who want a broad basket of AI interests will also buy into financial products which include hard assets that feed into ‌data centres,” said B

See Full Page