Will the global price of copper exceed $14,000 per metric ton for any full month before 2028?

Copper Price Surge: $14,000 Per Metric Ton by 2028

Copper is one of the most critical commodities for the global energy transition, essential for electric vehicle (EV) wiring, charging infrastructure, wind turbines, and solar farms. Its price has surged in recent years due to tight supply and growing demand. This prediction states that the global price of copper will exceed $14,000 per metric ton for any full month before the end of 2028.

The Supply-Demand Mismatch

The surge to this record-high level would be caused by a severe supply-demand mismatch:

• **Green Demand Shock:** Global EV adoption and renewable capacity installation accelerates faster than expected.
• **Mine Production Lag:** Long lead times (often over a decade) for new mines to come online, failing to meet the pace of demand.
• **Geopolitical Concentration:** Supply chain disruptions or resource nationalism in major copper-producing regions.

A price of $14,000/ton would signal extreme tightness in the market, significantly increasing the cost of all 'green' technologies and potentially slowing the energy transition.