Copper market expected to be in surplus in 2025 followed by deficit in 2026, ICSG says
The International Copper Study Group (ICSG) on Wednesday projected a surplus of approximately 178 000 t in the global refined copper market for 2025, followed by a deficit of 150 000 t in 2026.
World copper mine production is expected to grow by 1.4% in 2025, with an accelerated growth rate of 2.3% forecast for 2026, according to ICSG data. Meanwhile, refined copper usage is predicted to increase by about 3% in 2025 and 2.1% in 2026.
The data showed refined copper production is forecast to rise by 3.4% in 2025 but slow to 0.9% growth in 2026, the group said.
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