2026 Metal Market Outlook: AI Data Centers Drive Surge in Copper, Steel, and Aluminum Demand
The 2026 forecast highlights a dramatic shift in metal demand driven by the rapid expansion of AI data centers. Copper is projected to face a shortfall of 150,000 tonnes, pushing prices toward $12,500–$13,000 per ton and extending lead times. Each hyperscale facility will also require up to 20,000 tonnes of steel and significant aluminum for cooling and structural support, while domestic reshoring trends add supply‑chain urgency.
The 2026 forecast highlights a dramatic shift in metal demand driven by the rapid expansion of AI data centers. Copper is projected to face a shortfall of 150,000 tonnes, pushing prices toward $12,500–$13,000 per ton and extending lead times. Each hyperscale facility will also require up to 20,000 tonnes of steel and significant aluminum for cooling and structural support, while domestic reshoring trends add supply‑chain urgency.
Copper prices are likely to climb sharply, encouraging long‑term contracts and tighter inventory management. Steel and aluminum demand will rise, potentially tightening supply and raising prices, especially for specialty alloys used in data‑center infrastructure. Buyers should prioritize strategic supplier partnerships and flexible procurement to mitigate lead‑time risks.