Copper Supply Squeeze Spreads: World Needs More Metal

The copper market's supply squeeze has spread beyond mines and concentrate availability is tightening.

Smelters and fabricators are turning to recycled material to secure feedstock, highlighting a broader problem: the world needs more copper but finding new primary supply is becoming increasingly difficult.

Copper scrap prices are rising as companies seek alternative sources of metal, with imported copper concentrate index falling to -US$182.14 per dry metric tonne in August 2026, according to Shanghai Metals Market analysis.