EU: Glencore's copper output falls 11% in 2025 despite strong H2 recovery

Glencore's copper production declined 11% y-o-y to 851,600 t in 2025, landing at the lower end of its guidance, weighed by lower ore grades and recoveries at Collahuasi, Antamina and Antapaccay. However, H2 output rebounded sharply, rising nearly 50% over H1 on improved grades and recoveries at KCC, Antamina and Antapaccay, offering near-term supply support.