Morning Bites

🥉Global mined copper production jumped 6.6% YoY to 3.6mnt in 2mo24, the International Copper Study Group reports. The main growth contributor was DR Congo (~11% of global supply), where output surged 26% YoY, supported by the expansion of the Kamoa mine. This also offset the negative effects from the closure of Cobre Panama (since November 2023). Meanwhile, the ICSG notes an increase in refined copper consumption (+7% YoY in 2mo24), driven by strong demand in China, with usage in the rest of the world estimated to have declined

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https://metals-wire.com/sector/Copper