Group 1 - The International Copper Study Group (ICSG) predicts a supply surplus of approximately 178,000 tons in the global refined copper market by 2025, followed by a shift to a supply deficit of 150,000 tons in 2026 [1] - Global copper mine production is expected to grow by 1.4% in 2025 and accelerate to 2.3% in 2026, while refined copper consumption is projected to increase by about 3% in 2025 and 2.1% in 2026 [1] - Refined copper production is anticipated to rise by 3.4% in 2025, but the growth rate will slow to 0.9% in 2026 [1] Group 2 - China, as the largest copper consumer globally, faces three major challenges: increasing dependence on foreign upstream resources, overcapacity in the midstream processing sector, and downstream demand being suppressed by high copper prices [1] - To assist the industry in navigating these challenges, Shanghai Nonferrous Metals Network (SMM) has collaborated with copper industry chain enterprises to compile a bilingual version of the "2026 China Copper Industry Chain Distribution Map" [1]
ICSG：2025年铜市将供应过剩，2026年转为供应短缺
Wen Hua Cai Jing·2025-10-09 02:07