From copper to coal: How data centres are causing new pressures across commodity markets

The rapid growth of data centres driven by the rollout of artificial intelligence (AI) has significant implications for commodities markets — both direct and indirect: 

• Direct: Constructing and equipping data-processing requires a wide range of metals and minerals for construction, servers, cooling systems and power backup 

• Indirect: Data centres also create substantial demand for power, driving additional demand for metals used in grid infrastructure, while supporting coal demand in regions where coal remains a significant source of the supply mix. 

As mining companies navigate an increasingly complex geopolitical environment, data centre driven commodity demand is emerging as an important factor in investment planning, supply chain strategy and market positioning. 

Wood Mackenzie’s in-depth expertise and intelligence across metals and mining, energy and power markets gives us a unique view of the interconnected dynamics of AI, power demand, energy security and commodity markets. In a new report, our metals and mining experts find that the biggest commodity opportunity from data centre growth lies not in data centre itself, but in the power infrastructure needed to support it. 

Fill out the form at the top of the page to download the complimentary insight, which offers a clear overview of how rising AI- and data centre driven power demand is driving new opportunities for commodities while also creating fresh uncertainties around energy markets, fuel choices and coal demand. 

Topics covered include:  

• The direct impact of data centre buildout  

• Our outlook for data centre driven power demand growth in North America and Asia Pacific through 2040 

• A breakdown of applications within the data centre global aluminium demand for data centre buildout to 2035 

• Why power infrastructure presents the largest commodity opportunity from data centre growth 

• Why rapid datacentre growth is good news for coal