Explore the evolving market for base metals as nickel faces competition from lithium iron phosphate alternatives.

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.

Explore how China’s 15th Five-Year Plan drives base metals demand in advanced manufacturing and renewable energy.

ACG Metals expects to begin to produce copper and zinc concentrates in mid-2026, marking a shift from gold toward base metals, as part of its plan to build a mid-tier copper company, according to its founder, chairman and chief executive officer.

The Democratic Republic of Congo (DRC) and its southern neighbor Zambia are betting on winning more benefits from their copper endowment by directly trading the metal themselves while output and demand for copper surge,

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.

Why copper smelters are holding strong despite tight margins and global supply pressures

Trafigura chief executive officer Richard Holtum's closing message onstage at the LME metals seminar was that processing capacity was more important than mining for national security

Argentina is strengthening its role in the global energy transition through a comprehensive critical minerals strategy that extends beyond lithium to include copper, LNG, uranium and renewables. The country’s stable governance and investment-friendly policies are enhancing its appeal to international partners.