Global copper production sees mixed trends amid shifting supply

According to the International Copper Study Group (ICSG) October 2026 bulletin, global refined copper production grew by 1.7 percent during the first eight months of 2026. This growth was driven by a 5.3 percent increase in secondary production from scrap and a 4.5 percent rise in solvent extraction-electrowinning (SX-EW) output, which helped offset a 1.9 percent decline in copper concentrate production.

Regional production varied significantly. Chile experienced a 7 percent drop in mine production due to declines at the El Teniente, Escondida, and Spence mines. Indonesia saw a 29 percent decrease in concentrate production following a landslide at the Grasberg mine. In the Democratic Republic of the Congo, concentrate production fell by 26 percent due to lower output at the Kamoto mine, though SX-EW production rose by 4.5 percent. Conversely, Mongolia saw a 20 percent increase in concentrate production from the Oyu Tolgoi project, and Peru reported a 1.3 percent increase in mine production.

Global apparent consumption of refined copper rose by 1.4 percent in the first eight months of 2026. While demand in China increased by 2.8 percent, consumption in other regions decreased by 0.6 percent. The global market showed an apparent surplus of approximately 218,000 tons.