Global copper production is expected to decline about 1.5% in 2020 due to the COVID-19 pandemic then recover by about 4.5% in 2021, according to Portugal-headquartered International Copper Study Group.

The group forecast 21.8 million tonnes of copper mine production for 2021, growing from 20.4 Mt in 2020.

In 2019, global copper output fell 0.2% to 20.5 Mt, mainly due to a number of operational issues, particularly in Indonesia, the group noted.

Refined copper production and refined usage are estimated to hit 25.7 Mt and 24.7 Mt, respectively, in 2021, with global refined usage to exceed supply by 69,000 tonnes.

The group expects sustained copper demand to continue due to the metal's importance in economic activity, modern technology, infrastructure development in major countries such as China and India, and the global pursuit for cleaner energy.