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Copper is critical to the energy transition. It is already used widely in electrical cabling applications, and the greater need for wiring in electric vehicles (EVs) and in renewable electricity generation will add to consumption from other, traditional sectors.
In 2022, traditional sectors accounted for 92% of refined copper demand, with energy transition sectors, such as wind and solar power and EVs, accounting for the rest.
The Fastmarkets copper long-term forecast leverages our heritage in providing price data and market intelligence in the copper market. These insights are paired with economic modeling and data to provide market participants and investors with unmatched clarity on how the copper market will evolve in the next 10 years.
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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.
Explore the challenges facing the global copper smelting industry in 2026, including supply-demand imbalances and market uncertainties.
Explore the base metals outlook 2026 and learn how market trends are impacting copper, tin, and other metals this year.
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.
Glencore copper output expected to drop as production difficulties at Collahuasi mine hinder 2026 forecast adjustments.
Understand supply/demand balances in the copper market over the next decade
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