Refined Copper
Covered in 20 MetalsCost.com News Intelligence articles, most recently on October 31, 2026.
Coverage
Chile's Copper Commission Cuts 2026 Output Forecast to 4.94 Million Tonnes
Cochilco, Chile's state copper commission, expects the country's copper output to fall 8.4% to 4.94 million tonnes in 2026, down from its earlier forecast of 5.27 million. It raised its 2026 average price forecast to $6.18 a pound.
World Bank Raises Its 2027 Copper Price Forecast by 18% to $13,000 a Tonne
The World Bank expects copper prices to stay near record highs next year, raising its 2027 forecast by 18% from April to $13,000 a tonne. New mines are struggling to keep up with demand from power grids and data centres.
Copper Stocks in LME Warehouses Rise to Their Highest Since July, Mostly in North America
Copper stocks in London Metal Exchange warehouses rose last week to their highest level since July, after deposits made mostly in North America. In China, exchange stocks fell by more than a quarter, and copper prices were little changed on Monday.
Copper Falls to a Five-Week Low as More Metal Arrives in LME Warehouses
Copper on the London Metal Exchange fell 1.8% on Thursday to its lowest level since mid-September. More metal is arriving in LME warehouses, mostly in the US, easing fears of a shortage, while a slide in stock markets weighed on all industrial metals.
Wood Mackenzie Warns AI Power Demand Could Outrun Metal Supply as Mine Investment Lags
Consultancy Wood Mackenzie says the power grids needed for AI data centres will use three to four times more metal than the data centres themselves, while new mine approvals are lagging. It sees copper markets outside the US already short of about 450,000 tonnes.
India's Copper Demand Rises 12% to 2.1 Million Tonnes on Solar Build-Out and Car Sales
India used 2,100 kilotonnes of copper in the year to March 2026, 12% more than a year earlier, according to the International Copper Association India. Demand grew much faster than the economy, led by power infrastructure, cars and construction.
Copper's Record Run Owes More to US Tariff Policy Than to AI Demand, LME Week Panel Says
Analysts from Macquarie, JPMorgan and Mercuria told an LME Week panel in London that copper's price near $14,500 a tonne reflects US tariff policy and tight supply, not booming demand. One called AI's boost to copper demand "overhyped".
BHP Expects a Lasting Copper Shortfall From 2028, Needing Up to 10 More Escondidas
The world's biggest copper producer, BHP, expects the copper market to move into a structural deficit from around 2028. Its finance chief says 8-10 million tonnes of new supply, the output of eight to ten Escondida mines, will be needed by the mid-2030s.
Record Copper Prices Are Bringing Old Mines Like Tasmania's Mt Lyell Back to Life
With copper near record prices and new mines taking 17 years to develop, miners are restarting old ones. Restarts could add almost 1 million tonnes of output a year by 2030, Benchmark Mineral Intelligence estimates.
Indian Copper Producers Urge the Government to Keep Import Duties in Budget 2027-28
India's primary copper producers have asked the government not to cut import duties on refined copper in the next Union Budget, warning that cheaper imports could hurt plans to invest about ₹35,000 crore in new capacity by 2030.
ICSG Sees the Global Copper Surplus Widening to 368,000 Tonnes in 2027
The International Copper Study Group expects the refined copper market to stay in surplus, with the gap widening from about 104,000 tonnes this year to 368,000 tonnes in 2027 as supply growth outpaces demand.
Aurubis Lifts Its 2027 European Copper Premium to a Record $347 a Tonne
Europe's biggest copper smelter, Aurubis, will charge customers a record $347 a tonne above LME prices next year, up 10%, three market sources told Reuters, as tight supply and US tariff fears keep European copper scarce.
Copper Gains 2% in a Week as Chilean Mines Falter and Strikers Begin a Hunger Protest
Copper rose 2% this week to settle at $14,540 a tonne on the London Metal Exchange. Output fell sharply at two of Chile's biggest mines in August, a strike at Antofagasta's Centinela mine escalated, and Chinese buyers returned from holiday.
Vedanta Plans $2.3 Billion Copper Push and Puts Thoothukudi Smelter Restart Back on the Agenda
Vedanta plans to invest about $2.3 billion over three to four years to lift its copper output above 1 million tonnes a year by 2030. It also wants to restart its Thoothukudi smelter in Tamil Nadu, shut since 2018, if it wins approval.
Chile's Copper Output Falls 12.8% in August to Its Lowest Level Since 2011
Chile, the world's largest copper producer, mined just 369,500 tonnes in August, its lowest monthly output since February 2011. Storms and falling ore grades are squeezing supply in a market that is already tight.
Deutsche Bank Says Copper Could Rise 50% to $22,050 as US and China Stockpile
Deutsche Bank says copper could climb more than 50% to $22,050 a tonne by the second quarter of 2027. Its reason is stockpiling: the US and China are locking away so much metal that other buyers are left fighting over what remains.
Copper Holds Near $14,450 as Workers at Chile's Centinela Mine Vote to Strike
Workers at Antofagasta's Centinela copper mine in Chile voted 98.73% in favour of a strike after rejecting the company's contract offer. The threat kept copper firm near $14,450 a tonne on a day when most metals fell.
China's Refined Copper Output Is Heading for Its Slowest Growth Since at Least 2000
China's copper smelters are on course for their weakest output growth since at least 2000, as ore and scrap shortages and falling acid prices squeeze them. Copper itself fell 1.8% on Monday on weak Chinese data.
India's Copper Producers Ask for a GST Cut to 5% as Record Prices Lock Up Cash
India's primary copper producers are asking the government to cut GST on copper from 18% to 5%. With copper at record highs, they say the tax now ties up as much as $3.6 billion of working capital.
Steel and Aluminum Tariffs Hold at 50% as Copper's Rate Gets Cut Under Trump's Expanding Metal Tariff Program
Steel and aluminum tariffs remain at 50% under Section 232, while copper's rate was cut from 50% to 25% for some products in April 2026, even as the program keeps expanding into new sectors.
