Global copper shortage could reach 10 million metric tons over next decade, expert says

A persistent shortage of copper is emerging globally and could reach as much as 10 million metric tons over the next decade, according to expert Pavel Petrov, as reported by TASS.

Petrov said the shortage is expected to continue until at least 2030, pointing to a widening gap between global copper supply and the rising demand driven by sectors such as electrification, renewable energy and advanced manufacturing.

Copper is a critical material for electrical wiring, renewable energy infrastructure and a wide range of industrial applications, making supply constraints a significant concern for global manufacturers and energy transition efforts.

The report did not specify which regions or industries are expected to be most affected by the anticipated shortfall, nor did it outline specific measures being considered to address the gap.

Analysts have previously flagged copper as one of several critical minerals facing long-term supply pressures as demand accelerates alongside global efforts to expand renewable energy capacity and electric vehicle production.