Grupo Mexico Expects Slight Global Copper Deficit in 2026

Published: Jul 23, 2026 09:38

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Grupo Mexico expects the global copper market to remain in a slight deficit in 2026, supported by a resilient U.S. economy and growing demand from decarbonization technologies, artificial intelligence and electric vehicles, according to Leonardo Contreras, head of the company's mining division. The company said current supply and demand fundamentals point to a tight copper market, with demand continuing to strengthen across energy transition, AI infrastructure and EV applications. Grupo Mexico also reported a 79% year-on-year increase in second-quarter net profit, driven by stronger copper prices.

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