Copper Nears Nickel Price Range as AI and EV Demand Surge
AI News Flash: International copper prices are approaching decades-long highs, while nickel — once seen as a critical rare metal — keeps sliding, and the price gap between the two is closing fast in what’s being called an unprecedented convergence. Even though copper’s supply is relatively more abundant than other base metals, prices keep climbing thanks to surging demand from AI-related industries and electric vehicles (EVs). The report notes that AI infrastructure expansion (data centers, power, and compute buildout) is driving up copper usage in lockstep with the EV industry, reshaping copper’s supply-demand structure and pushing prices up toward nickel’s price range.