Commodity Market Report
Global copper short-term outlook April 2020
Report summary
After hitting lows in March in the midst of the wholesale panic in the face of the coronavirus pandemic, the price has staged a modest recovery climbing above $5200/t on several occasions in the second half of the April. It would seem that the risk to mine supply and the potential for further disruption is outweighing the negative consequences of a collapse in demand. Other potential factors include a sharp recovery in Chinese economic activity and tight scrap availability.
Table of contents
-
Market developments
- China
- Asia ex-China
- USA
- Europe
- Russia
-
Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Production news
- Project development
- Corporate news
Tables and charts
This report includes 23 images and tables including:
- Supply disruptions and China’s return support modest recovery after March sell-off
- Regional LME stocks (kt)
- COMEX and SHFE stocks (kt)
- Comparison of base case and downside scenario demand
- Comparison of base case and downside scenario – stock days
- Price forecasts and world quarterly supply/demand balance (kt)
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- Copper end-use indicators recovered in March
- AIA Billings Index points to weakness in non-residential construction into 2021
- Housing starts collapse in March
- European sectoral PMIs
- Production and shipments of copper wire rod and copper semis - kt
- Global quarterly refined copper consumption - kt
- Blister market RC
- 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)
What's included
This report contains:
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