Scrap copper 'didn't arrive in seconds'! AI and power grid demand are driving up copper prices, and the supply gap has become the core contradiction According to Beating AI News, during the traditional off-season of copper consumption from July to August, the scrap copper market in Taizhou, Zhejiang is exceptionally hot. The price of some high-quality scrap copper has exceeded 90000 yuan/ton, and even reached 100000 yuan/ton. The market demand has increased two or three times compared to before, and some goods have been pre booked by customers before being dismantled. Recycled copper enterprises are also in a high load state. Zhejiang Judong Co., Ltd. plans to increase its recycled copper production capacity to 100000 tons this year, and is currently operating at full capacity with orders scheduled for about a month. Data shows that the copper spot price index of Shanghai Nonferrous Metals Trading Center rose by 31% in the first half of this year; From February to August, COMEX and LME copper futures rose 52% and 58% respectively. The industry believes that the core of this round of copper price increase is still the mismatch between supply and demand: the contraction of overseas copper mine output and the rise in raw material costs have led to a slowdown in supply growth, while AI computing centers, power grids, and new energy infrastructure continue to release new copper demand. After entering the traditional peak consumption season from September to October, whether the supply-demand contradiction can be further strengthened is still a concern. However, analysts remind that the rapid rise in copper prices has put significant pressure on downstream processing enterprises, and demand transmission is not smooth. The momentum of this round of upward trend may have entered the middle and later stages. In the medium to long term, the progress of global copper mine resumption and the speed of AI demand realization will become the two main factors determining the trend of copper prices. [Original link]