In January-May 2025, Ukrainian companies increased imports of copper and copper products by 20% compared to the same period last year, to $77.971 million. This is evidenced by the data of the State Customs Service of Ukraine.
Copper exports also increased by 17.8% to $38.762 million over the same period. In May, the volume of imports amounted to $16.245 million, and exports – $9.635 million.
For comparison, in 2024, the volume of copper imports remained virtually unchanged compared to 2023 and amounted to $140.797 million. At the same time, exports increased by 22.4% to $88.237 million.
In 2023, despite the war, Ukraine doubled its copper imports to $140.795 million (+120% yoy), while exports decreased by 20.1% to $72.078 million. The upward trend in copper trade in 2025 indicates a recovery in demand for the metal from both the domestic market and foreign buyers.
Copper is widely used in electrical engineering, pipe manufacturing, alloys, medicine and other industries.
imports, exports, copper
In January-April 2025, Ukrainian enterprises imported copper and copper products worth $61.62 million, which is 16.2% more than in the same period of 2024. Exports grew by 16.1% to $29.13 million. In April, imports amounted to $15.13 million, while exports amounted to $7.78 million.
Copper is widely used in electrical engineering, pipe manufacturing, alloy production, medicine, and other industries.
ICSG forecasts that global refined copper production will increase by around 2.9% to 28.9 million tons in 2025. This is driven by the continued expansion of production capacity in China and the start-up of new plants in other countries such as Indonesia, India and the Democratic Republic of Congo. Copper demand is expected to increase by 2.4% to 28 million tons in 2025. Top 20 copper producing countries in 2024
Place Country Production volume (million tons)
1 Chile 5.3
2 Democratic Republic of Congo 3.3
3 Peru 2.6
4 China 1.8
5 Indonesia 1.1
6 USA 1.1
7 Russia 0.93
8 Australia 0.8
9 Kazakhstan 0.74
10 Mexico 0.7
11 Zambia 0.65
12 Canada 0.6
13 Poland 0.5
14 Brazil 0.4
15 Mongolia 0.35
16 Iran 0.3
17 Armenia 0.25
18 Serbia 0.2
19 Bolivia 0.18
20 Turkey 0.15
Source: USGS, ICSG, 2024
“Open4Business has analyzed the world’s copper producers in 2024. According to the International Copper Study Group (ICSG) and the United States Geological Survey (USGS), global copper production reached 23 million tons in 2024, up 3.2% year-on-year.
Top 20 copper producing countries in 2024
Rank Country Production volume (mln tons)
1 Chile 5.3
2 Democratic Republic of the Congo 3.3
3 Peru 2.6
4 China 1.8
5 Indonesia 1.1
6 USA 1.1
7 Russia 0.93
8 Australia 0.8
9 Kazakhstan 0.74
10 Mexico 0.7
11 Zambia 0.65
12 Canada 0.6
13 Poland 0.5
14 Brazil 0.4
15 Mongolia 0.35
16 Iran 0.3
17 Armenia 0.25
18 Serbia 0.2
19 Bolivia 0.18
20 Turkey 0.15
Refined copper production in the world in 2025 will increase by about 2.9% to 28.9 million tons, according to the International Copper Study Group (ICSG).
This will be driven by the expansion of production capacity in China and the launch of new facilities in other countries, primarily in Indonesia, India and the Democratic Republic of Congo (DRC).
In 2026, copper production is expected to grow by 1.5% to over 30.8 million tons.
Demand for copper this year is expected to increase by 2.4% to 28 million tons. “Given the uncertainty surrounding international trade policy, which is likely to weaken the global economic outlook and negatively impact copper demand, the growth rate estimate has been revised downward from the group’s September forecast, which assumed a 2.7% increase,” the report said.
In 2026, global copper consumption may increase by 1.8% to about 28.5 million tons.
At the same time, demand in China is projected to grow by about 2% in 2025 and 0.8% next year, according to experts.
In 2024, the world recorded a copper surplus of 138 thousand tons. This year, the surplus of the metal on the global market is expected to be about 289 thousand tons, and in 2026 – 209 thousand tons.
When making forecasts, ICSG understands that the situation on the global market can change under the influence of numerous factors, the report says.
The International Copper Study Group, established in 1992, is an intergovernmental organization that serves as a vehicle for international discussion and cooperation on copper-related issues. The ICSG is the only multilateral institution dealing with copper production, consumption and trade. The group consists of 25 countries, including the European Union, Kazakhstan and Russia.
In January-March 2025, imports of copper and copper products to Ukraine increased by 10.5% compared to the same period in 2024 to $46.42 million.
Exports of copper products increased by 17.7% to $21.35 million.
In March, imports amounted to $16.14 million, while exports amounted to $7.05 million.
For the whole of 2024, copper imports remained stable ($140.8 million), while exports increased by 22.4% to $88.24 million.
Copper is widely used in electrical engineering, pipe manufacturing, alloys, medicine and other industries.
