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Updated · Bloomberg · May 19Chile Cuts 2026 Copper Output View to 5.3 Million Tons as It Raises Price Forecasts
7 articles · Updated · Bloomberg · May 19
- Chile now expects copper production to fall 2% this year to 5.3 million metric tons, a downgrade that reinforces concerns over tight global supply.
- Cochilco said lower ore grades, maintenance work and operational constraints drove the weaker outlook for the world’s top copper-producing nation.
- For 2027, Chile sees output recovering 4% to about 5.5 million tons, suggesting supply pressure may ease only gradually.
- The lower production path supports higher price forecasts at a time when copper is already trading near record highs.
As Chile's copper output falters, can the world's green energy transition survive the looming supply crunch? With Chile's supply at risk, is copper becoming the new oil in the global geopolitical contest? Is bureaucratic red tape, not geology, the biggest threat to the future of global copper supply?