What Copper's AI Rally Means When Tech Stocks Sell Off

AI copper demand reaches well beyond data centers into aging power grids, while copper now trades in step with AI and tech stocks on risk-off days. Natalie Scott-Gray, StoneX Senior Metals Analyst EMEA & Asia, is joined by Giles Plumb, Head of Base Metals Trading; Philip Meijer, Options Sales Trade; Michael Price, Senior Base Metal Sales; and Michael Cuoco, Head of Fund Sales, Metals and Bulks, to explain how AI is reshaping the copper market. The panel weighs whether data center copper demand is already priced in, and why a hot U.S. inflation print pulled copper lower alongside AI and semiconductor stocks. They also cover rising copper volatility, thinner liquidity on the London Metal Exchange, record options open interest, and the strategic weight of U.S. copper stocks. Discover Actionable Metals Insights with StoneX Market Intelligence: https://shop.stonex.com/products/stonex-essential-bundle?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_natalie_scott_gray&utm_content=share 00:00 - AI Has Become Copper's Story 01:29 - Nuclear Scales, Copper Lags 02:28 - Data Center Copper Runs Ahead 04:10 - Hot CPI Drags Copper With Tech 06:33 - Power Grids Need More Copper 07:24 - Liquidity Thins, Options Surge 08:48 - U.S. Copper Stocks Stay Sticky 10:23 - AI's Productivity Wildcard Like and subscribe for more financial market insights. Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@StoneX_Official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social #Copper #StoneX #NatalieScottGray #GilesPlumb #LME