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| Recycled copper |
Global recycled copper production surged at the beginning of 2026, according to the Lisbon-based International Copper Study Group (ICSG). January output reached 445,000 metric tons, up 11.5% compared with January 2025. This reflects a solid month-on-month increase from December 2025’s 424,000 metric tons.
Increasing Role of China in Secondary Copper Supply
China’s scrap consumption drove much of the growth in global secondary refined copper. ICSG reports that expanded Chinese melt shop capacity and heightened demand pushed output beyond 10% year-on-year. Meanwhile, escalating copper prices have significantly influenced global scrap trading patterns.
Copper Inventories and Price Trends
Meanwhile, LME, Comex, and SHFE warehouses held over 1.195 million metric tons at March 2026, the highest since 2003. Stocks rose 61% compared to December 2025, reflecting accumulation amid high prices. Copper prices ranged between $11,826 and $13,088 per metric ton, marking substantial growth from 2025’s $8,690–$9,920 per metric ton equivalent.
The strong start in recycled copper highlights robust secondary supply chains and investor interest. As demand from China persists, market dynamics will remain volatile.
ScrapInsight Commentary
The surge in recycled copper production emphasizes China’s growing influence on secondary supply. Rising inventories suggest market caution, while high prices signal sustained demand for circular economy resources. Continued monitoring is critical for price forecasting and strategic scrap procurement.
