Copper consumption in the US and India is set to surpass China in the next decade as demand growth slows in China. Analysts predict a shift in market dynamics due to changing policies, infrastructure cycles, and geopolitical shifts. China’s demand for refined copper is estimated at 15 million tons this year.

US President Trump’s 50% tariffs on copper products may boost local production, affecting China’s export market. Trade Data Monitor ranks the US as China’s fourth-largest market for copper tubes and pipes, potentially leading to a significant loss for Beijing. China’s output of manufactured goods is expected to slow due to pushback from Western countries.

India is expanding its transmission infrastructure to support its renewable energy goals, while Asia (excluding China) is expected to see a 25% increase in copper demand from 2025 to 2030. BMI forecasts a 35% rise in demand for electric infrastructure, including power grids and data centers. China’s demand growth potential is limited compared to the rest of the world.

Grid improvements in the West involve modernizing infrastructure, which is less copper intensive than building from scratch. Chinese investment in electric vehicles, renewables, and the power grid has kept its influence on the copper market strong. CRU expects China’s share of global copper consumption to decrease by 2030, with more growth expected in other regions.

Read more at Yahoo Finance: Analysis-New copper demand drivers from US, India as China juggernaut slows