International Copper Study Group preliminary data indicates that world copper mine production increased by about 2.2% over the first eight months of 2025, with concentrate production increasing by 2.1% and solvent extraction-electrowinning (SX-EW) by 2.8 %. In the first eight months of 2025, global mine production benefited from additional output from projects ramping up to capacity and an improvement in production at a number of operating
mines.

Preliminary data indicates that world refined copper production grew by about 4% during the first eight months of 2025 with primary production (electrolytic and electrowinning from ores) up 3.9% and secondary production (from scrap) up by 5%. Production in China and the DRC, that currently represent about 57% of the global production, is estimated to have increased by a combined 9% (China +9% and DRC +8%).

Preliminary data suggests that world apparent refined copper usage rose by about 6% over the first eight months of 2025. Chinese apparent demand (excluding changes inbonded/unreported stocks) is estimated to have grown by around 9%.

ICSG data showed that preliminary world refined copper balance indicates an apparent surplus of about 147,000 t in the first eight months of 2025.

Powered by Commodity Insights