Renewable energy boom seen pushing copper, silver prices higher
Rising global demand for renewable energy is expected to drive up prices of key industrial metals such as copper and silver, as countries accelerate the shift away from fossil fuels amid geopolitical tensions.
The trend has intensified following disruptions in oil supply routes, including the Strait of Hormuz, which has pushed oil prices higher and increased interest in alternative energy sources, News.Az reports, citing Turkish media.
According to futures and commodities expert Zafer Ergezen, demand for renewable energy was already strong before recent conflicts, but has since surged significantly, particularly in the Asia-Pacific region.
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Countries heavily dependent on energy imports in Asia and Europe are now prioritizing renewables to reduce reliance on oil and improve energy security.
Ergezen highlighted China as a key driver of the trend, noting its long-term strategy to diversify energy sources through large-scale investments in both nuclear and renewable energy.
China’s growing capacity in these sectors is expected to widen the gap with other countries and reinforce global momentum toward cleaner energy.
Copper and silver play a critical role in renewable technologies, including solar panels, wind turbines, and power infrastructure.
As investments in clean energy expand, demand for these metals is already increasing, and could rise further in the coming years, especially after ongoing geopolitical conflicts subside.
The expert also pointed to growing renewable energy demand in the Middle East, where countries may increasingly invest in wind and solar power.
Additionally, the rapid expansion of artificial intelligence (AI), which requires large amounts of energy, could further boost investment in renewables, adding pressure to global metal supplies.
Recent conflicts, including tensions involving the U.S., Israel, and Iran, have highlighted the vulnerabilities of oil-dependent systems.
As a result, countries are expected to accelerate efforts to diversify energy sources, reduce dependence on fossil fuels, and strengthen sustainability, factors likely to support higher copper and silver prices over the long term.
By Aysel Mammadzada
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