SunSirs: Global Copper Mine Output Fell 1.1% in First Half; U.S. Copper Imports Hit Record High in July
September 04 2026 10:34:46
On September 4, the International Copper Study Group (ICSG) released data showing a 1.1% decline in global copper mine production during the first half of the year. Both Codelco (Chile's state-owned copper producer) and Freeport-McMoRan recorded double-digit drops in output.
Morgan Stanley, which had initially forecast an increase in copper mine supply, has revised its outlook; it now expects global mine production to remain largely flat or decline slightly, signaling a potential annual drop for the first time since 2017.
Copper prices have repeatedly hit record highs over the past year, driven largely by tariff-related trade flows. Investors are betting that the stagnation in mine production growth will push prices even higher.
These data and revised forecasts will directly impact various segments of the copper supply chain—including mining company profits, smelting and refining charges, and downstream manufacturing costs. Investors should monitor the extent to which tightening supply continues to support copper prices.
Separately, official data released by the U.S. Department of Commerce on Thursday showed that U.S. imports of refined copper and copper alloys reached a record high of 225,094 tonnes in July, driven by traders rushing to ship copper into the country ahead of potential tariffs. According to Trade Data Monitor, the July import volume reported by the Commerce Department was the highest monthly figure recorded since 1990, marking a 78% increase month-on-month and an 8% increase year-on-year. (Source: Sina Finance)
SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.
- 2026-10-08 SunSirs: Commodities Round-up: Oil Prices Fall, Copper Prices Rise Slightly; Strike at Chilean Copper Mine Exacerbates Supply Concerns; Gold Prices Slip
- 2026-09-30 SunSirs: Centinela Copper Mine (Annual Output: 240,400 Tons) Faces Another Strike Threat
- 2026-09-30 SunSirs: Copper Deficit Projected at 530,000 Tons by 2026; Peru’s 1-Million-Ton Production Boost Not Expected Until 2032
- 2026-09-30 SunSirs: Supply Pressures Emerge; Copper Prices Set to Trend Upward Amid Volatility
- 2026-09-30 SunSirs: Commodities Roundup: Oil Falls, Copper Edges Up, Gold Rebounds
