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Copper breached $14,000/ton and is approaching record highs as rebounding Chinese…

2026-05-13 · 00:01 UTC ·@mining ·1 min read

Brief

Copper is nearing record highs after prices breached $14,000/t as rebounding Chinese demand meets tightening supply. Middle East disruptions have sparked a global sulfuric acid shortage—key for ~20% of copper output—pushing acid prices nearly double and Chinese inventories down. Sprott forecasts strategic uses will rise from 32% to 45% of demand over the next 15 years (by 2040).

Why it matters

Copper breached $14,000/ton and is approaching record highs as rebounding Chinese demand collides with tightening global supply (post dated 2026-05-13 by @mining).

Key details

  • Middle East disruptions have triggered a global sulfuric acid shortage — sulfuric acid is a key input for roughly 20% of copper production; acid prices have nearly doubled and Chinese inventories are falling, pushing up production costs in real time.
  • Sprott analysts say electrification and strategic uses (data centers, power systems) will increase from 32% to 45% of total copper demand over the next 15 years (reaching 45% by 2040), shifting demand away from cyclical construction.
Source evidence

Copper is approaching record highs as rebounding Chinese demand collides with tightening global supply conditions.

As prices recently breached the $14,000/t mark, electrification is becoming an increasingly important driver of demand. Data centers and other strategic uses are projected to reach 45% of total copper demand by 2040.

▪️The Supply Shock: Middle East disruptions have triggered a global sulfuric acid shortage — a key input for roughly 20% of copper production. With acid prices nearly doubling and inventories in China falling, production costs are being reset in real-time.

▪️The Strategic Shift: Electrification is now the fastest-growing end-use, shifting demand away from cyclical construction toward long-term energy security and power systems.

▪️The Sprott Outlook: Analysts highlight that these strategic segments are set to jump from 32% to 45% of total copper demand over the next 15 years, significantly outpacing traditional industrial growth.