The Ubiquitous Metal

Copper isn’t just one trade; it’s a bet on civilization. Here is the approximate breakdown of global consumption in 2026:

1. Construction (40%): Wiring for homes, commercial buildings, and plumbing. As emerging markets (India, Africa) urbanize, this creates a massive baseload of demand.
2. Electrical Grid (25%): Transmission lines, transformers, and sub-stations. This segment is growing the fastest due to the layout of renewables (often far from cities).
3. Consumer Products (20%): Electronics, appliances, air conditioners.
4. Transport (15%): Cars, trains, ships. This sector is undergoing a revolution with EVs.

The Growth Vector

While “Construction” is steady, “Grid” and “Transport” are growing at double-digit CAGRs.

• Solar Demand: Needs 5 tonnes per MW.
• Wind Offshore: Needs 10 tonnes per MW.
• EV Charging Stations: A hidden source of massive copper intensity.