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S&P Global has warned of a significant copper shortage that could threaten global economic growth, projecting a deficit of 10 million tons by 2040 due to rising demand from sectors like energy transition and artificial intelligence. Global copper demand is expected to increase from 28 million tons last year to 42 million tons by 2040, with Asia projected to account for 60% of this growth, driven by electric vehicle adoption and infrastructure upgrades. Additionally, heightened defense spending related to global conflicts is anticipated to further escalate copper demand.