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00:02The global copper supply deficit is worsening as electrification,
00:06power grid upgrades, and AI data centers drive demand, according to Benzinga.
00:10London copper prices are up about 15% this year,
00:14as traders ship metal to the U.S. ahead of expected tariffs,
00:17draining inventories elsewhere, including China.
00:20Morgan Stanley forecasts a 600,000-ton shortage,
00:24while J.P. Morgan projects a 330,000-ton deficit.
00:27Bloomberg Neff warns the global shortfall could reach 20 million metric tons by 2050
00:32without $332 billion in new mining investment.
00:37BHP reported a 19% decline in quarterly copper production to 400,700 tons,
00:43missing analyst expectations.
00:46Bad weather, a fatal accident, and equipment failures
00:49disrupted operations in Chile and Australia.
00:52Copper has overtaken iron ore as BHP's largest profit driver,
00:56increasing its exposure to copper prices.
00:58For all things money, visit Benzinga.com.
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