India needs 500,000 tonnes of new refined copper capacity every five years, ICA India says
AI Market Summary
ICA India highlights accelerating refined copper demand (FY25 +9.3% YoY to 1.878 Mt) driven by infrastructure, construction, and renewables. Planned capacity additions (~100 kt) lag projected needs of ~500 kt every five years, implying a persistent domestic supply deficit and higher import reliance. This reinforces expectations of tighter global refined copper balances and can support near-term risk premia across copper-linked pricing and supply chains.
Impact level
● Medium
Affected assets
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AI Insight · NCCOCOPPER2USD/USDTAI Insight
▲ Bullish
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India’s refined copper demand is rising quickly, reaching 1,878 kilo tonnes (KT) in FY25, up 9.3% from FY24, driven by infrastructure, construction and renewable energy. The country will need about 500,000 tonnes of additional refining capacity every five years to keep pace, according to International Copper Association India. Planned additions such as Hindalco’s and Kutch Copper’s projects, along with secondary smelter capacity, would add about 100,000 tonnes—far short of demand. As a result, domestic output is expected to remain below requirements, reinforcing reliance on imports and expectations of tight global copper supply.
