Copper will follow the AI trade lower, making it a good catch-up short. x.com 

Copper miners have a long-term supply case because major copper discoveries have dried up. The world will face a very large copper imbalance as the years pass. x.com 

Copper shorts are making a risky bet as Shanghai and London report record-low copper inventories. Guided by the White House, shorts are piling in on the view that inventories will be allowed to run to zero before anyone buys. x.com  x.com 

Copper is one of the clearest trades over the next three years because supply is worse than most realize while AI accelerates demand. Chile, about a quarter of global production, just hit a nine-year production low, and copper miners have held up far better than silver and gold. Deutsche Bank forecasts copper soaring 50% to $22,050 a ton. x.com 

Copper miners look attractive because copper could quickly double and become a true AI supply-chain bottleneck, though the trade is fairly consensus. Per a quoted thread on S&P Global data, tier-1 discoveries fell from 714.8Mt in the 1990s to 8.7Mt over 2020-2025 despite exploration spending above $3 billion a year. A mix of explorers and producers works best: Hudbay and Taseko for US assets, Ero as cheap, Solaris as built for a sale, plus Glencore, Teck, Southern Copper and Freeport. x.com  … Show more

Record copper import premiums signal imminent supply shortages. @robert_ivanhoe reports that the Yangshan premium broke its record, indicating scarce near-term supply in China. An Ivan Bebek chart using International Copper Study Group data shows preliminary global mine output down 1% year on year in January-July 2026, after eight straight years of growth. x.com  x.com 

Freeport-McMoRan and Southern Copper own the real AI bottleneck, copper, a link almost no one is pricing yet. AI data centers are wrapped in copper wire, EVs need 2-3x the copper of gas cars, and every grid upgrade needs it; per S&P Global, demand nearly doubles by 2035. Supply can't respond fast: a US mine takes 29 years from discovery to production, and only three major US mines have opened since 2002. Freeport is the liquid bellwether; Southern Copper is the lowest-cost producer. x.com  x.com  … Show more

Copper miners should catch up to copper once oil comes down and logistics chains reopen. Supply pressure plus AI demand have created a perfect storm that pushed copper to new all-time highs. The pattern target is 115, with 92 as the breakout line. x.com 

Copper is becoming the oil of the AI era because the energy transition, AI data centers and military rearmament are all hitting a supply curve locked by geology and time. Ore grades have fallen from 0.8% in 2000 to 0.46%, and new mines now take about 18 years to develop. Per S&P Global, mine output peaks in 2029, with a 2.2Mt concentrate deficit by 2032; the IEA sees mines meeting only about 70% of demand by 2035. Per CRU, data center copper demand rises from 260kt in 2025 to over 650kt by 2030. … Show more

Copper miners stand to benefit as US Section 232 copper tariffs, due to be finalized by June 30, weaponize the raw materials AI hardware needs. Goldman Sachs warns new tariffs will likely trigger large-scale hoarding by US buyers, and COMEX copper stocks have already passed a record 650,000 tons. The crunch is spreading to tungsten, tin, tantalum and indium; that cost-push inflation hurts AI hardware margins but is structurally very bullish for copper-rich miners. x.com