The forecast for copper apparent consumption in the US indicates a steady decline from 2024 to 2028. In 2023, the actual consumption level stood at 1.5853 million metric tons. The forecasted data shows a decrease of approximately 1.8% year-on-year from 2024 to 2025. The decline continues at a similar rate in subsequent years, leading to a compound annual growth rate (CAGR) of about -1.8% over the forecast period from 2024 to 2028.
Future trends to watch for include:
- Shifts in industrial demand for copper, particularly in sectors like renewable energy and electric vehicles.
- Potential policy changes affecting mining and recycling of copper in the US.
- Global supply chain disruptions or enhancements that could impact copper availability and pricing.
