Research from Wood Mackenzie finds that the base metals required to power the global data centre boom extend far beyond the servers, cooling units, and enclosures inside the facility. When grid reinforcement, transmission networks, and facility-level power systems are included, total system-level metals consumption reaches an estimated three to four times the volume implied by the asset itself. The research, Data centre metals demand: it’s all about the infrastructure not internals (Wood Mackenzie, June 2026), sets out why the conventional framing of this demand story is incomplete, and what that means for commodity ... (full story)