Copper Prices May Continue to Benefit from China's AI Development
Dow Jones10-29 16:49
0849 GMT - Copper price may continue to benefit from China's AI development, according to BofA Securities in a research note. Copper use in China data centers is likely to rise as China continues to increase investment in artificial intelligence, the bank says. The base metal's use in Chinese data centers could rise to 1.3 million metric tonnes by 2030 from 340,000 metric tonnes in 2025, the bank says. This is led by power delivery and interconnects, which are copper cables linking data center hardware, the bank says. With supply constrained, copper is the bank's top pick in the materials sector.
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