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Informist, Friday, Apr. 24, 2026

 

MUMBAI – The global refined copper market is expected to shift to a surplus of 96,000 tonnes in 2026, reversing a previously forecast deficit of 150,000 tonnes, the International Copper Study Group said in a report. This shift to surplus is due to slower demand growth and increased secondary refined production. In 2027, the global refined copper market is expected to record a higher surplus of 377,000 tonnes, the report said. 

 

Global refined copper production is projected to increase by 0.4% to 30.44 million tonnes in 2026 and by 3% to 32 million tonnes in 2027. Global refined copper consumption is expected to rise 1.6% to 28.66 million tonnes in 2026, followed by a 2% increase to 29.24 million tonnes in 2027, the report said.

 

In 2026, refined copper production in China is forecast to increase 1.9%, while output in the rest of the world is expected to increase around 1.3%. "Asia will continue to be the main driver of global growth, with demand in other key copper-using regions remaining subdued, notably in the EU and Japan," the report said.  

 

Global copper mine production is expected to increase 1.6% to 24.25 million tonnes in 2026 and 2.3% to 25.83 million tonnes in 2027, the report said. "2026 world mine production growth has been revised down to 1.6% from the 2.3% anticipated in the Group's October 2025 forecasts, mainly reflecting downward revisions made to the DRC (Democratic Republic of Congo), Chile and Indonesia growth," the report said. 

 

At 2031 IST, the most active three-month copper contract on the LME was at $13,355.50 per tonne, down 0.6% from the previous close.  End

 

US$1 = INR 94.25

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Reshma Ravi

Edited by Saji George Titus

 

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