BofA Securities: AI data center expansion supports copper demand; supply constraints continue to support prices

(1) In a research report, BofA Securities stated that copper demand is expected to be supported by the expansion of AI-driven data centers. Analysts at BofA Securities noted that copper remains crucial for power transmission and short-range interconnections, and the growing power demand further supports copper demand related to the power grid. (2) Combined with ongoing supply constraints, BofA expects that copper demand and prices will continue to be supported.