Commodity Market Report

Global copper short-term outlook April 2022

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29 April 2022

Global copper short-term outlook April 2022

Report summary

After consolidating within a US$10,000 to US$10,600/t range through much of April, copper prices faltered alongside the other base metals to end the month 8% below its US$10,580/t peak at the start of the month. Growing concerns over global demand prospects were intensified by the deteriorating picture in China, while a resurgent US dollar and rising exchange inventories ex-China triggered a shift in sentiment and a correction in prices.

Table of contents

Tables and charts

This report includes 25 images and tables including:

  • LME 3-month copper - highs and lows (US$/t)
  • US refined copper imports (kt)
  • LME vs COMEX copper prices (US$/t)
  • Managed money CFTC positions
  • LME copper prices vs trade weighted dollar index
  • Price forecasts and world quarterly supply-demand balance (kt)
  • Concentrate market TCRCs
  • Global copper-in-concentrate stock changes (kt Cu)
  • Shanghai new cases remain high
  • Growing shipments to semiconductor sector
  • Production and shipments of copper wire rod and copper semis - kt
  • Global quarterly refined copper consumption - kt
  • 2022 Planned maintenance for Chinese smelters
  • Monthly global imports of copper scrap and electronic scrap (gross weight kt)
  • Blister market RC
  • Monthly reported Chilean copper production
  • Monthly reported Peruvian copper production
  • Global mine production - breakdown by product type (kt copper in concentrate and leach output)
  • Global copper refined consumption (kt)
  • Global copper mine production (kt copper in concentrate and 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:

  • Document

    Global copper short-term outlook April 2022

    PDF 1.15 MB