According to the statistics released from the International Copper Study Group (ICSG), the 2017 global copper mine production declined by 2.7% and the global copper consumption grew slightly by 1%.

One of the main reasons for the reduction in global mine production was that the world’s biggest copper mine producing country, Chile, was affected by the strike at the Escondida mine and lower output from Codelco mines.

Nevertheless, it was estimated the 2018 global copper mine production would increase by 2.5% with increasing amount about 500,000 tons. In 2019, it might grow by 1.9% with about 400,000 tons of increasing amount.

Besides, the 2018 copper consumption growth was expected to increase to 2.3%.