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Informist, Wednesday, Feb. 25, 2026

 

MUMBAI – The surplus in the global refined copper market widened to 380,000 tonnes in 2025 from 69,000 tonnes in the previous year, according to a report by the International Copper Study Group. Global production of refined copper rose more than 4% on year to 28.54 million tonnes in 2025, while consumption was up around 3% at 28.16 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 copper production, is expected to have risen by a combined 9% on year in 2025, the report said. Global production of refined copper, excluding these two countries, fell 1.8% on year. Refined copper production in Asia, excluding China, is expected to have declined nearly 4% last year, mainly due to lower output in Japan and the Philippines, according to the report.

 

Production of refined copper in Chile declined 10% in 2025, with electrolytic production down 16%, impacted by smelter maintenance shutdown, according to the report. Global secondary refined copper production from scrap rose around 6% on year to nearly 5 million tonnes last year, mainly due to growth in China.

 

Demand for copper from all countries, excluding China, rose about 2% on year in 2025. 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 4% last year.

 

The global copper mine capacity in 2025 was 28.85 million tonnes, against around 28 million tonnes a year ago. Mine utilisation rate fell to 80.1% from 82% a year ago, the group said. Copper stocks held at major metal exchanges rose to 933,641 tonnes at the end of January 2026, the highest level since September 2003, and up 25% from the end of December 2025, the group said. On the London Metal Exchange, the average cash price rose 11% to $13,088.88 per tonne in January from $11,803.79 per tonne in December.  End

 

US$1 = INR 90.90

 

Reported by Ashutosh Pati

Edited by Tanima Banerjee

 

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