According to data from the Copper Development Association, new data centers added in 2026 alone will consume an estimated 460,000 tonnes of copper — illustrating how the AI infrastructure boom and the EV revolution are simultaneously competing for the same limited pool of metals. Morgan Stanley analysts have highlighted that building out renewable power and electric transport requires vast quantities of industrial metals, with copper, aluminum, lithium, nickel, and cobalt all seeing robust demand from car production, battery manufacturing, solar panels, wind turbines, and upgraded electric grids.

In China, Europe, and the US, strong investment in renewable energy and associated infrastructure has already boosted demand for base metals. That trend is expected to accelerate through 2026 and beyond as countries race to expand green capacity and meet climate commitments, making non-ferrous metals more strategically important than ever before.