Antofagasta copper output is set to increase by nearly 30% as the company transforms its operations by the end of the decade.

Explore the role of DRC Gecamines in copper mining and its collaboration with Mercuria to strengthen international supply.

Major trading houses Mercuria and Glencore secured copper concentrate offtake agreements totaling at least $450 million in prepayment financing in late December, with Mercuria signing for 195,000 wet metric tonnes from Bulgaria’s Ellatzite mine on December 30 and Orion Minerals providing an update on December 31 on its $200-250 million Glencore financing and offtake deal for South Africa’s Prieska project.

Find out how copper smelters are addressing demand challenges with innovative strategies at the Resourcing Tomorrow conference.

Explore Mercuria's new African copper joint venture with Gecamines, enhancing copper trade transparency and pricing.

Gain valuable insights into the copper market outlook 2026, including key trends and challenges facing mines and smelters next year.

Fastmarkets invited feedback from the industry on the pricing methodology for its International Organization of Securities Commissions (IOSCO)-audited non-ferrous metals, via an open consultation process between October 13 and November 12, 2025. This consultation was done as part of our published annual methodology review process.

As global smelting margins weaken, a quiet revival is taking shape in the United States as new copper smelting and refining projects gather momentum. Policy shifts, strategic incentives and the push for industrial resilience are driving investment that could close America’s long-standing processing gap and reshape its role in the global copper market.

Freeport’s 2026 copper concentrate contracts introduce a higher floor-cap pricing structure that redefines industry benchmarks. The negotiations highlight broader shifts in global copper supply, smelting economics and pricing frameworks.

‘Animal spirits’ are back in the copper market as supply disruptions, declining ore grades, and rising demand push prices toward $19,000–$22,000 per tonne, with long-term demand supported by electrification, defense, and global infrastructure growth.