Copper Surplus
Global copper market surplus narrows to 147,000 tn Jan-Aug, says study group
This story was originally published at 21:12 IST on 23 October 2025
Register to read our real-time news.Informist, Thursday, Oct. 23, 2025
MUMBAI – The surplus in the global refined copper market fell to 147,000 tonnes in the first eight months of 2025 from a surplus of 477,000 tonnes in the corresponding period last year, according to a report by the International Copper Study Group. Global refined copper production rose around 4% on year to almost 19.0 million tonnes in Jan-Aug while consumption rose around 6% on year to 18.8 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-Aug, the report said. Global production of refined copper excluding these two countries fell by about 2% on year. Refined copper production in Asia, excluding China, is expected to have declined nearly 5% in Jan-Aug, mainly due to lower output in Japan and the Philippines, according to the report.
Overall Chilean refined copper production fell 10% in the first eight months of the year, with electrolytic production down 12.5%, impacted by smelter maintenance shutdown, according to the report. Global secondary refined copper production from scrap rose by 5% to 3.3 million tonnes in Jan-Aug, mainly due to growth in China.
Demand for copper from all countries, excluding China, rose about 1.6% on year in Jan-Aug, with 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 grown by around 9% in the first eight months of the year.
The global copper mine capacity in Jan-Aug was 19.4 million tonnes, against 18.8 million tonnes a year ago. Mine utilisation rate fell to 79.0% from 79.8% a year ago, the group said. Copper stocks held at major exchanges rose to 530,651 tonnes at the end of September, up over 23% from the end of December 2024, the group said.
On the London Metal Exchange, the average cash price rose 3.2% to $9,952.73 per tonne in September from $9,645.85 per tonne in August. At 1945 IST, the most active three-month copper contract on the LME was at $10,847.5 per tonne, up 1.7% from the previous close. End
US$1 = INR 87.84
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Deepshikha Bhardwaj
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
