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وكالة الأنباء القطرية
Qatar National Bank: Copper Prices to Rise on Demand Gap
The National Bank of Qatar expects copper prices to continue rising in the future, driven by global demand growth resulting from the shift to clean energy and the expansion of AI-related infrastructure. Although copper prices have surpassed $6.20 per pound — their highest in years — they remain below the true levels seen during the 2008 rally, indicating the potential for further increases. The rising demand for renewable energy technologies, grid modernization, and increased adoption of electric vehicles are all fueling greater need for copper. Meanwhile, supply growth is limited by structural constraints and insufficient investments, which could lead to a widening supply gap. It is anticipated that new supplies will begin hitting markets in the early 2030s. Therefore, these factors are expected to support a sustained rise in copper prices over the long term.
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