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Earth-i: global copper smelting activity declines for the first time in four months
Copper smelting worldwide declined in February, according to satellite data. This marks the first drop in the last four months. The decline is largely attributed to reduced activity outside of China.
Data from Earth-i, which monitors 95% of global copper smelting production, revealed that 8.8% of smelters were inactive last month, up from 8.6% in January. The most significant declines were observed in Europe, Asia, and Oceania.
Despite the overall decline, Earth-i reported that red metal processing activity remains robust. This contrasts with the challenging market conditions for refining and processing tariffs. Meanwhile, inactivity among Chinese smelters fell to 5.5%, the lowest rate since March 2023, as noted by Kitco analysts.
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