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Informist, Thursday, Jan. 22, 2026

 

MUMBAI – The surplus in the global refined copper market widened to 206,000 tonnes in the first eleven months of 2025 from a surplus of 105,000 tonnes in the corresponding period the previous year, according to a report by the International Copper Study Group. Global refined copper production rose over 4% on year to 26.11 million tonnes in Jan-Nov, while consumption rose around 4% on year to 25.90 million tonnes, the report said.

 

Production of refined copper in China and the Democratic Republic of Congo, which currently account for around 57% of the global production, is estimated to have risen by a combined 9% on year in Jan-Nov, the report said. Global production of refined copper, excluding these two countries, fell by 1.7% on year. Refined copper production in Asia, excluding China, is expected to have declined by 3% in Jan-Nov, mainly due to lower output in Japan and the Philippines, according to the report.

 

Chilean refined copper production declined by 11% in Jan-Nov, with electrolytic production down by 19%, impacted by smelter maintenance shutdown, according to the report. Global secondary refined copper production from scrap rose around 6% on year to 4.55 million tonnes in Jan-Nov, mainly due to growth in China.

 

Demand for copper from all countries, excluding China, rose about 1.8% on year in Jan-Nov. Growth in demand in several Asian, West Asian, and North African countries offset weak demand in the European Union and Japan, the report said. Demand for the metal in China is estimated to have risen by 5.5% in the same period.

 

The global copper mine capacity in Jan-Nov was 26.81 million tonnes, against 25.92 million tonnes a year ago. Mine utilisation rate fell to 78.6% from 80.5% a year ago, the group said. Copper stocks held at major metal exchanges rose to 744,115 tonnes at the end of December, up 73% from the end of December 2024, the group said. On the London Metal Exchange, the average cash price rose 9.3% to $11,803.79 per tonne in December from $10,800.78 per tonne in November.  End

 

US$1 = INR 91.60 

 

Reported by Ashutosh Pati

Edited by Vandana Hingorani

 

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