Copper futures hit record high as data center build-up, EV growth fuels demand

From cnbc.com

Copper futures hit a record high on Wednesday as demand for the base metal stays strong amid a rush to build data centers and the continued electrification of the global economy. Copper prices on the NYMEX hit $5.02 per pound, according to data from FactSet. The metal has gained more than 25% so far this year. Demand for copper is widely considered a proxy for economic health, with metal being key to the energy transition ecosystem. It is integral to manufacturing electric vehicles, power grids and wind turbines, especially as the global economy electrifies. Copper demand from electric vehicles and the transportation ... (full story)