Warns Of A Copper Supply Crisis: Metals 'Dance To Their Own Although advancements in electric vehicle (EV) technology have reduced the amount of copper required in new models—Tesla Inc‘s (NASDAQ:TSLA) latest 48V system reportedly needs 75% less copper—the demand from other sectors remains high.
Notably, copper is crucial for applications such as data center cabling and the electricity network, covering power generation and transmission.
Following this optimistic forecast, the bank has also upgraded its ratings for copper producers Freeport–McMoran Inc. (NYSE:FCX) and Hudbay Minerals Inc. (NYSE:HBM) from Neutral to Buy, signaling expected strong performance in the copper sector.
https://markets.businessinsider.com/news/stocks/bank-of-america-sees-gold-at-3-000-warns-of-a-copper-supply-crisis-metals-dance-to-their-own-tune-1033234049