Commodities Buzz: Copper mine production down marginally this year

The International Copper Study Group (ICSG) released preliminary data on world copper supply and demand for August in its October 2026 Copper Bulletin. Preliminary data indicates that world copper mine production declined by 0.9% in the first 8 months of 2026, with a decline in concentrate production of 1.9% more than offsetting an increase in solvent extraction-electrowinning (SX-EW) of 2.7%. Chilean mine production declined by 7% mainly as a result of reduced output at El Teniente, Escondida and Spence mines. Chilean concentrate production was down by 9.3% and SX-EW output was up by 0.5%.world refined copper production grew by about 1.7% in the first 8 months of 2026, with primary production (electrolytic and electrowinning from ores) growing by 1% and secondary production (from scrap) increasing by 5.3%.Preliminary data suggests that world apparent refined copper usage increased by 1.4% in the first 8 months of 2026. Preliminary world refined copper balance indicates an apparent surplus of 218,000 t in the first 8 months of 2026.

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