ICSG analysts expect global copper production to increase by 2.3% this year

According to estimates of the International Copper Study Group (ICSG), presented in a new forecast of the organization, the global copper production in 2025 will increase by 2.3% to 23.5 million tons.

According to the ICSG analysts, the growth will be mainly driven by increased production in the Democratic Republic of Congo, Mongolia, and Russia. Copper refining is also expected to rise in Asian countries, pushing up the global output of processed copper by 2.9%.

For 2026, the organization forecasts a further increase in the production of red metal by 2.5%. Experts attribute this to an expected recovery in production at projects in Chile, Zambia, and Indonesia, adding to the growing figures of the already mentioned countries. However, as the ICSG believes, the dynamics of refined metal output in 2026 will decrease by 1.5% on limited supplies of concentrates.

As for copper consumption, analysts of the research group expect it to increase by 2.4% this year and a further 1.8% in 2026. The Asian region will remain the main source of demand.