Global Mineral Market Undergoes Profound Adjustment Amid Oversupply and Shortages
The Global Mining Development Report 2026, released by the China Geological Survey and China Mining News, shows that global production and consumption of energy and mineral resources have generally increased, but the underlying structure is undergoing a profound adjustment.
The report indicates that demand for energy minerals has slowed, with oil facing oversupply, natural gas seeing rising supply and demand, and coal production declining while consumption rises.
Bulk minerals show mixed performance: steel supply has fallen while demand has risen; copper and zinc have seen increases in both supply and demand; and aluminum has experienced declines in both.
Strategic emerging minerals like nickel and lithium are seeing a widespread oversupply, with the surplus intensifying. Precious metals, on the other hand, remain tight, with platinum and silver facing shortages, while gold maintains a balance of tight supply and demand.