The world argues over mines and smelters, but copper still can't plug into an EV or thread into an AI server as long as it's just a plain, square “cathode” sheet that looks identical to every other. The step that turns those sheets into wire, cable, tube, foil, and busbar is fabrication — the downstream stage closest to “real demand” in the copper chain, and, once again, one where China quietly controls about half the world's capacity.
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