Name: Global copper long-term outlook Q1 2019
Brand: Wood Mackenzie
SKU: 106435
Price: 5000 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Commodity Market Report 27 March 2019

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

What’s the key takeaway from this quarter’s report?

Copper's fundamentals are set to tighten sharply over the next couple of years. The anticipated rise in prices should encourage producers to commit to projects that will fill the expected supply gap.

Get our latest long-term outlook for all your questions on copper market fundamentals to 2040

Understand how end-use sectors and macroeconomic activity could influence our forecasts
Map out the impact of China's scrap policies
Identify how developments in mine supply will influence price.

This report includes 61 charts and tables, including this one, which tracks historical supply and demand changes and forecasts future balances out to 2030. Scroll down for the full table of contents.

Report summary

Global copper demand growth in 2018 turned out to be slightly weaker than suggested in our previous report. A contraction in semis production in a number of countries along with revisions to the split between refined and direct use of scrap, means our refined consumption estimates have been revisited. These changes alongside lower than anticipated mine disruptions kept the market in balance in 2018. Over the next couple of years, tightening metal market fundamentals against a backdrop of moderating demand growth and weak mine supply will drag inventories well below equilibrium levels of 65 days and encourage a rally in prices. The anticipated rise in prices should provide sufficient confidence to encourage new supply to the market. Once new supply starts to reach the market, surpluses should emerge with prices reversing their upward trend from the 2020 peak. Nevertheless, new projects are still required to offset falling output at existing mines over the medium to long term.

Overview
China
North America
Latin America
Europe
Japan
Asia (excluding China & Japan)
Russia & the Caspian
Rest of world
Trends in consumption of secondary copper
- Scrap definition
- Scrapping rates
- Scrap usage
- Scrap consumption
- Scrap outlook
Principal uses of copper
Copper mine project changes since Q4 2018
- Base Case
- Probable
- Possible
6 more item(s)...

Tables and charts

This report includes the following images and tables:

Manufacturing activity in all of the world's major economies starts to dipRegional refined copper consumption, 2000 - 2040 kt CuTotal copper consumption by property, 2000 - 2040 kt Cu