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China’s copper production at record high

Refined copper production in China is set for a record output in 2023, according to official statistics and Bloomberg, as the country invests in new smelting capacity.

china copper production - The Oregon Group - Investment Insights

Despite economic concerns in the broader Chinese economy, demand for commodities such as copper have stayed high, as we suggested in our analysis What the end of zero-Covid in China means for commodities.

Twelve expansion or construction copper smelter projects are scheduled for completion from 2023-2026, according to a survey conducted by Fastmarkets, with an expected net increase of at least 3.4 million tonnes per year of new copper smelting capacity.

china copper imports product type - The Oregon Group - Investment Insights

The increase in production comes as our latest report warns global supply of copper, essential for a host of industries and crucial to green technology and the global energy transition, is expected to face a supply gap of nearly 10 million mt within the next ten years.

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The Oregon Group

The Oregon Group is an investment research team focused on critical minerals, mining, energy and geopolitics.

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