World mine copper production will increase

International Copper Research Organization: World mine copper production will increase by 2.2% year-on-year in 2021

The International Copper Research Organization released the 2021 world copper supply and demand data in the March Express. Preliminary data show that from January to December 2021, the world's mine copper production increased by 2.2% year-on-year, of which copper concentrate production increased by about 3.7% year-on-year, and the production of electrolytic copper by hydro-smelting (SX-EW) decreased by 3.9% year-on-year.

In Chile, the world's top copper producer, production in 2021 will decrease by 1.9% year-on-year, of which copper concentrate production will decrease by 1.3% and SX-EW electrolytic copper production will decrease by 3.6%. Total Chilean production in 2021 is 2.8% lower than in 2019. In Peru, the second-largest producer, production in 2021 is up around 7% year-on-year. Production in 2021 is still 6.5% lower than in 2019. Indonesia's production in 2021 will increase by 49% year-on-year. Production in the Democratic Republic of Congo increased by 12%, in Panama by 61% and in China by 10%.