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Global Copper Supply Declines 1.1% in H1 2026, First Annual Drop Since 2017

1 reports1 sources10/20/2026 updated

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Global copper mine output fell 1.1% in the first half of 2026, marking the first annual decline in supply since 2017. The downturn is largely attributed to production interruptions at two major mines: Indonesia’s Grasberg and the Democratic Republic of Congo’s Kamoa‑Kakula. These disruptions are expected to reduce worldwide copper production by roughly 600,000 tonnes, accounting for about 2.5% of global supply. The dip underscores growing supply constraints amid rising demand from electric‑vehicle and renewable‑energy sectors. While some analysts suggest that the decline may be temporary, the sustained impact on supply chains could influence copper pricing and investment decisions in the near term.

Written with AI from the reporting · updated 10/20/2026

Latest developmentOct 20, 21:00
Copper tests April support as mine supply drops for first time since 2017
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  1. 1Unclassified fact stationJan 1, 00:00recorded Oct 20, 21:47single source

    Copper mine supply fell 1.1% in first half of 2026

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    Evidence & revisions · 1 source records
    Subject：
    copper
    Action：
    mine supply decreased
    Object：
    global copper mine supply
    Occurred (fact side)：
    Jan 1, 00:00
    BeInCrypto ↗Report pageOriginal / first version
    Published (valid side)：
    Oct 20, 21:00
    First seen (known side)：
    Oct 20, 21:47
    Fact stationSingle source · one-sided claim

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Oct 20
  1. BeInCryptoRelated fact: single source
    Copper tests April support as mine supply drops for first time since 2017

    Report first recorded Oct 20, 21:47

    Copper prices test their April support trendline amid a 1.1% drop in global mine supply in the first half of 2026, the first annual decline since 2017. Outages at Grasberg in Indonesia and Kamoa-Kakula in Congo erased about 600,000 tonnes of expected 2026 output, equal to roughly 2.5% of global supply. While refined metal remains abundant with a 131,000-tonne surplus, ore pricing shows strain, with Antofagasta selling Centinela ore at minus $310 per tonne. AI data centers are major copper consumers, with a 1-gigawatt campus needing up to 50,000 tonnes, though cost remains a minor issue at under 0.5% of budget. S&P Global projects a widening long-term gap, estimating 2040 demand at 42 million tonnes leaving supply roughly 10 million tonnes short.

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