loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

India's copper demand is expected to grow at 9-9.5% CAGR

ICICIdirect Research 10 Jul 2026 DISCLAIMER

News: As per media sources, India's copper demand is expected to grow at 9-9.5% CAGR to reach 3-3.3 million tonnes by 2030, driven by strong growth in infrastructure, power transmission, renewable energy, and electric vehicles. Despite new smelting capacities from domestic players, India is expected to remain copper-deficit, with imports continuing to bridge the supply gap. The industry has also urged the government to support domestic smelting and refining capacity expansion

View: This is positive for Hindalco, which is expanding its copper smelter capacity by 300 KTPA, expected to be commissioned by FY29. The higher growth outlook for copper and India's structural copper deficit are expected to support the company's capacity expansion and strengthen its long-term growth prospects. We remain positive on Hindalco, supported by its strategic expansion in copper and aluminium and increasing focus on value-added products

Impact: Positive

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere