Chile trims copper output forecast and lifts price outlook

Chile, the world's largest copper supplier, has cut its production forecasts for this year and next, reinforcing the tight global supply picture that has pushed prices close to record highs.Asian Metal Copyright55 a pound from a previous estimate of $4.Asian Metal Copyright The state copper commission Cochilco said in its quarterly outlook that Chilean output is expected to fall 2% to 5.Asian Metal Copyright6 million tons for this year and 5.Asian Metal Copyright3 million metric tons this year, weighed down by declining ore grades, maintenance and operational constraints, before recovering 4% to about 5.Asian Metal Copyright5% this year to 28.Asian Metal Copyright5 million tons in 2027.Asian Metal Copyright5 million tons in 2027.Asian Metal Copyright The agency had previously forecast 5.Asian Metal Copyright3% in 2027 to 28.Asian Metal Copyright6 million tons for this year and 5.Asian Metal Copyright The agency had previously forecast 5.Asian Metal Copyright97 million tons for next year.

The reduced guidance from a country that accounts for almost a quarter of the world's mined copper adds further support to a market already lifted by supply disruptions at major mines and accelerating demand from data centres and the energy transition. Cochilco raised its average copper price forecast for this year to $5.Asian Metal Copyright Cochilco raised its average copper price forecast for this year to $5.Asian Metal Copyright55 a pound from a previous estimate of $4.Asian Metal Copyright2 million tons and 2.Asian Metal Copyright95; copper is currently trading above $6 a pound in New York.

Globally, refined copper demand is expected to grow 1.5% this year to 28.Asian Metal Copyright2 million tons and 2.Asian Metal Copyright2 million tons and 2.Asian Metal Copyright The reduced guidance from a country that accounts for almost a quarter of the world's mined copper adds further support to a market already lifted by supply disruptions at major mines and accelerating demand from data centres and the energy transition.Asian Metal Copyright3% in 2027 to 28.Asian Metal Copyright The state copper commission Cochilco said in its quarterly outlook that Chilean output is expected to fall 2% to 5.Asian Metal Copyright8 million tons, with China remaining the main consumption driver despite weakness in its property market.Asian Metal Copyright2 million tons and 2.Asian Metal Copyright Cochilco said the refined copper market would stay tight, projecting a small surplus of 12,000 tons in 2026 after last year's estimated deficit of 124,000 tons.
.Asian Metal Copyright The reduced guidance from a country that accounts for almost a quarter of the world's mined copper adds further support to a market already lifted by supply disruptions at major mines and accelerating demand from data centres and the energy transitionAsian Metal Copyright