Which emerging-market countries does Barclays identify as poised to benefit from AI-driven demand for metals, and why?

Barclays identifies Chile, Peru, Brazil, Indonesia, and China as emerging-market nations set to benefit from AI-driven demand for metals. Chile and Peru are highlighted for their large copper exports—critical for AI-related electrification, power grids, transmission infrastructure, and data-center wiring. Indonesia is noted as the top nickel producer, essential for batteries and energy storage supporting AI’s rising electricity demand. China is emphasized for its dominance in rare-earth magnets, which are vital for chip-making equipment, data-center infrastructure, and robotics.

How does Barclays compare the AI-driven commodity boom to a previous historical precedent?

Barclays draws a direct comparison between the AI-driven commodity boom and the China-led commodity boom of the early 2000s, stating that countries rich in AI-critical metals 'should particularly benefit from this momentum, experiencing an increase in exports, improving terms of trade and rising investment.'

Barclays: AI Rollout to Boost Metals-Rich EM Currencies

May 19, 2026

Barclays forecasts AI-driven demand for critical metals like copper and nickel will boost emerging-market currencies and exports. Nations such as Chile, Peru, and Indonesia are expected to benefit from rising commodity prices and investment.

bloomberg

2026-05-19

Barclays: AI Rollout to Boost Metals-Rich EM Currencies

Barclays: AI Rollout to Boost Metals-Rich EM Currencies

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