Author argues copper faces a large future supply deficit driven by AI, electrification and grid demand, pushing long-term prices much higher.
Unpriced research observations (excluded from Calls and Returns):
HG=F — LONG Author argues copper demand from AI, electrification and grid expansion will rise from ~28Mt to ~42Mt, while mine supply peaks around 2030 and new mines take 16–18 years to develop. Therefore supply cannot respond quickly, deficits in the 2030s are largely pre-determined, and the long-term price trend is much higher. Exact non-equity contract requires separate historical validation; no generic proxy.
This suggests that supply cannot respond quickly enough to rising demand, meaning deficits in the 2030s are largely pre-determined, and the long-term trend is much higher.