Copper prices seen pushing to new highs as global mine supply risks a 2026 decline
Global mined copper supply faces a risk of falling in 2026. Chile, the largest copper-producing country, is expected to see output drop 6.5% in the first half of 2026, while Indonesia and the Democratic Republic of Congo are projected to cut a combined 600,000 tonnes—nearly 2.5% of global supply. Copper prices have risen more than 45% over the past year as demand in China remains strong, with the Yangshan copper premium reaching its highest level since November 2022.