S&P Global Forecasts 50% Copper Demand Spike by 2040 as Shares Slip 18%
S&P Global forecasts global copper demand to surge 50% to 42 million metric tons by 2040, driving a 10 million metric ton shortfall without new mining investment. Meanwhile, S&P Global shares have slid roughly 18% year-to-date despite its steady moats in credit ratings and market intelligence.
1. Copper Demand Forecast
S&P Global projects that annual copper consumption will climb from 28 million to 42 million metric tons by 2040, a 50% increase that could outstrip supply by 10 million metric tons without fresh mining investments. The designation of copper as a critical mineral and rising use in AI data centers, electric vehicles and defense systems underpin this forecast and have driven prices above $13,000 per metric ton.
2. Stock Performance and Business Moats
Despite leading market intelligence and credit ratings divisions, S&P Global shares have fallen about 18% year-to-date. Investors remain wary of broader market volatility even as the firm’s recurring revenue streams and high barriers to entry in its core businesses support long-term growth prospects.