Copper prices continue to hit new highs.

Since the beginning of this year, the price of copper has continuously hit historic highs. On January 14th, the London Metal Exchange's copper futures once reached a record high of $13,407 per ton. Domestic copper futures have also surged to over 100,000 yuan per ton. The head of a certain processing enterprise introduced that the demand for AI computing power has experienced explosive growth, with the power consumption of a single chip rising from hundreds of watts to several thousand watts, placing stringent requirements on heat dissipation and conductivity performance. Therefore, hundreds of kilograms of copper are needed for the wiring and heat sinks of a cabinet. Analysis shows that the rapid rise in copper prices this time is influenced by a variety of factors, including supply and demand imbalances, emotional premiums, and financial speculation. In terms of supply, copper reserves in South American countries like Peru and Chile account for 40% of the global total but are under pressure due to factors like energy shortages, leading to a continued tight supply in the copper mining market. In terms of demand, the rapid growth in copper demand in emerging fields such as AI data centers, new energy vehicles, and robots has become an important force supporting copper prices.