Commodity market report

Global copper short-term outlook April 2017

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Report summary

The copper market service short term outlook (STO) is published monthly and provides a forecast of copper supply and demand fundamentals over the next two years. Copper prices have struggled for momentum over the start of the second quarter. Indeed although three month prices have recently recovered from mid month lows of just above $5 500/t they remain well below Q1 peaks of in excess of $6 000/t. Elevated cathode inventories and ongoing geopolitical uncertainty have weighed on sentiment. Meanwhile the recent easing of supply disruptions at major copper mines Escondida Grasberg and Cerro Verde has also been a key factor contributing to the more bearish tone.

What's included

This report contains

  • Document

    Global copper short-term outlook April 2017

    PDF 690.01 KB

  • Document

    Global copper short-term outlook April 2017

    ZIP 823.75 KB

  • Document

    Global copper short-term outlook data tables April 2017.xls

    XLS 340.50 KB

Table of contents

  • Executive summary
  • Supply-demand balances
  • Demand
  • Supply

Tables and charts

This report includes 20 images and tables including:

Images

  • COMEX managed money positioning
  • LME managed money positioning
  • Copper mine disruptions - concentrate and SxEw (excludes cost related closures)
  • Demand: Image 1
  • Demand: Image 2

Tables

  • Copper key forecasts
  • Price forecasts and world quarterly supply/demand balance - (kt)
  • Production and shipments of copper wire rod and copper semis - kt
  • Global quarterly refined copper consumption - kt
  • Concentrate market TCRCs
  • Global copper-in-concentrate stock changes - (kt Cu)
  • Blister market RCs
  • Global mine production - breakdown by product type (kt copper in concentrate & leach output)
  • Global copper refined consumption - (kt)
  • Global copper mine production - (kt copper in concentrate & leach output)
  • Global copper smelter production - (kt)
  • Global copper refinery production - (kt)
  • Copper stocks
  • Copper prices and premia
  • Copper supply/demand balance global summary - (kt)

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