It Isn't Just Silver

A couple articles back, I laid out the "still bullish" case on silver, and one of them being that demand has outstripped supply for 3 years now.  But it isn't just silver that's been in a deficit.

AI has a lot of people buzzing, with the "darling" high fliers like NVDA and AMD making these new high powered chips. But lost in the shuffle is one quite interesting fact. All these computers for AI need copper. Every single one of them and guess what? Copper is in supply/demand deficit.

SANTIAGO, April 12 (Reuters) - Copper's bull run should continue for at least the next three years, fueled by global supply challenges and hot demand for the metal to power energy transition and artificial intelligence technologies, industry analysts say.

The outlook is an optimistic harbinger for Freeport-McMoRan and other producers as decarbonization and technological shifts fuel copper's latest demand wave after China's rise powered a similar one two decades ago.

But with question marks hanging over a number of key projects, some estimate production will struggle to meet that demand.

These themes are expected to dominate conversations in the Chilean capital of Santiago at the CRU World Copper Conference from April 15-17, the largest annual gathering of industry executives, investors and analysts. Chile is the world's biggest copper producer but its output has faltered in recent years.

But with question marks hanging over a number of key projects, some estimate production will struggle to meet that demand.

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