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Business • 2026-11-01, 15:18 GMT • ~1 min read

Copper's AI-fuelled boom gets a reality check

تانبے کی اے آئی سے چلنے والی تیزی کو حقیقت کا سامنا

तांबे की एआई से चली तेज़ी को हकीकत का सामना

Copper's AI-fuelled boom gets a reality check

Key points

اہم نکات

मुख्य बातें

  • Investors, traders and mining executives gathered in London for the London Metal Exchange's annual event are questioning whether the expected surge in copper demand from artificial intelligence will fully arrive.
  • Trafigura's metals chief noted that data centres added almost nothing to copper demand growth in 2023 and are expected to add only about 350,000 tonnes this year, against global demand of around 28 million tonnes, while high prices have already squeezed demand elsewhere.
  • Macquarie analysts warned prices have run ahead of supply fundamentals, and tariff threats have pushed about 90 percent of LME and Comex copper warehouse stocks into the United States, up from about 20 percent two years ago, raising the risk of a sharp sell-off if those threats are lifted.
  • لندن میں لندن میٹل ایکسچینج کے سالانہ اجتماع میں سرمایہ کاروں، تاجروں اور کان کنی کے حکام نے سوال اٹھایا ہے کہ آیا مصنوعی ذہانت سے تانبے کی طلب میں متوقع اضافہ واقعی پورا ہوگا۔ ٹریفگورا کے دھاتوں کے سربراہ نے بتایا کہ ڈیٹا سینٹرز نے 2023 میں تانبے کی طلب میں تقریباً کوئی اضافہ نہیں کیا اور اس سال صرف تقریباً 350,000 ٹن کا اضافہ متوقع ہے، جبکہ عالمی طلب تقریباً 28 ملین ٹن ہے، اور زیادہ قیمتوں نے دوسرے شعبوں کی طلب پہلے ہی کم کر دی ہے۔ میکوری کے تجزیہ کاروں نے خبردار کیا کہ قیمتیں بنیادی رسد سے آگے نکل گئی ہیں، اور ٹیرف کی دھمکیوں نے ایل ایم ای اور کومیکس کے گوداموں کے تقریباً 90 فیصد تانبے کے ذخائر امریکہ میں مرکوز کر دیے ہیں، جو دو سال پہلے تقریباً 20 فیصد تھے، جس سے دھمکیاں ختم ہونے پر تیزی سے فروخت کا خطرہ ہے۔
  • लंदन में लंदन मेटल एक्सचेंज के वार्षिक आयोजन में जुटे निवेशकों, व्यापारियों और खनन अधिकारियों ने सवाल उठाया है कि क्या कृत्रिम बुद्धिमत्ता से तांबे की मांग में अपेक्षित उछाल पूरी तरह आएगा। ट्रैफिगुरा के धातु प्रमुख ने बताया कि डेटा सेंटरों ने 2023 में तांबे की मांग वृद्धि में लगभग कोई योगदान नहीं दिया और इस साल केवल लगभग 350,000 टन की वृद्धि की उम्मीद है, जबकि वैश्विक मांग लगभग 28 मिलियन टन है, और ऊंची कीमतों ने अन्य क्षेत्रों की मांग पहले ही घटा दी है। मैक्वेरी के विश्लेषकों ने चेतावनी दी कि कीमतें आपूर्ति की बुनियाद से आगे निकल गई हैं, और टैरिफ की धमकियों ने एलएमई और कॉमेक्स गोदामों के लगभग 90 प्रतिशत तांबा भंडार अमेरिका में केंद्रित कर दिया है, जो दो साल पहले लगभग 20 प्रतिशत था, जिससे धमकियां हटने पर तेज़ बिकवाली का खतरा है।

Investors, traders and mining executives gathered in London for the London Metal Exchange's annual event are questioning whether the expected surge in copper demand from artificial intelligence will fully arrive. Trafigura's metals chief noted that data centres added almost nothing to copper demand growth in 2023 and are expected to add only about 350,000 tonnes this year, against global demand of around 28 million tonnes, while high prices have already squeezed demand elsewhere. Macquarie analysts warned prices have run ahead of supply fundamentals, and tariff threats have pushed about 90 percent of LME and Comex copper warehouse stocks into the United States, up from about 20 percent two years ago, raising the risk of a sharp sell-off if those threats are lifted.

لندن میں لندن میٹل ایکسچینج کے سالانہ اجتماع میں سرمایہ کاروں، تاجروں اور کان کنی کے حکام نے سوال اٹھایا ہے کہ آیا مصنوعی ذہانت سے تانبے کی طلب میں متوقع اضافہ واقعی پورا ہوگا۔ ٹریفگورا کے دھاتوں کے سربراہ نے بتایا کہ ڈیٹا سینٹرز نے 2023 میں تانبے کی طلب میں تقریباً کوئی اضافہ نہیں کیا اور اس سال صرف تقریباً 350,000 ٹن کا اضافہ متوقع ہے، جبکہ عالمی طلب تقریباً 28 ملین ٹن ہے، اور زیادہ قیمتوں نے دوسرے شعبوں کی طلب پہلے ہی کم کر دی ہے۔ میکوری کے تجزیہ کاروں نے خبردار کیا کہ قیمتیں بنیادی رسد سے آگے نکل گئی ہیں، اور ٹیرف کی دھمکیوں نے ایل ایم ای اور کومیکس کے گوداموں کے تقریباً 90 فیصد تانبے کے ذخائر امریکہ میں مرکوز کر دیے ہیں، جو دو سال پہلے تقریباً 20 فیصد تھے، جس سے دھمکیاں ختم ہونے پر تیزی سے فروخت کا خطرہ ہے۔

लंदन में लंदन मेटल एक्सचेंज के वार्षिक आयोजन में जुटे निवेशकों, व्यापारियों और खनन अधिकारियों ने सवाल उठाया है कि क्या कृत्रिम बुद्धिमत्ता से तांबे की मांग में अपेक्षित उछाल पूरी तरह आएगा। ट्रैफिगुरा के धातु प्रमुख ने बताया कि डेटा सेंटरों ने 2023 में तांबे की मांग वृद्धि में लगभग कोई योगदान नहीं दिया और इस साल केवल लगभग 350,000 टन की वृद्धि की उम्मीद है, जबकि वैश्विक मांग लगभग 28 मिलियन टन है, और ऊंची कीमतों ने अन्य क्षेत्रों की मांग पहले ही घटा दी है। मैक्वेरी के विश्लेषकों ने चेतावनी दी कि कीमतें आपूर्ति की बुनियाद से आगे निकल गई हैं, और टैरिफ की धमकियों ने एलएमई और कॉमेक्स गोदामों के लगभग 90 प्रतिशत तांबा भंडार अमेरिका में केंद्रित कर दिया है, जो दो साल पहले लगभग 20 प्रतिशत था, जिससे धमकियां हटने पर तेज़ बिकवाली का खतरा है।

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