Copper Demand Surges Amidst Possible US Tariffs

The global demand for refined copper continued to grow in 2025, reaching 27,718 metric fine metric tons (ktmf), a 3.8% increase over the previous year.

This growth was driven by increasing investment in key sectors such as electric power grids, renewable energy and mobility, and cutting-edge technology in countries like China.

China consolidated its position as the largest consumer of refined copper, accounting for 58% of global demand, with a 4.9% increase to reach 16,202 ktmf.

The United States also saw an increase in consumption, by 4.6%, reaching 1,708 ktmf, driven both by structural demand and strategic stockpiling due to the possible imposition of tariffs under Section 232.