Commodity Market Report
Global copper short-term outlook April 2023
Report summary
Fear and risk aversion have been the dominant factors influencing the price of copper and the other base metals in April despite several attempts to trade higher. Worries about the overall strength of the global economy, growing concerns surrounding the health of the banking sector in the US and uninspiring Chinese demand have continued to weigh on equity markets and in turn base metals. Although copper found some strength following the release of China’s Q1 GDP growth figure, rising LME and COMEX inventories over the second half of the month have dragged prices lower.
Table of contents
-
Supply-demand balances
- Europe
- North America
- US
- Asia ex-China
- Japan
- Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Smelter production developments
- Other smelter news
- Mine production developments
- Other production news
- Mine project developments
- Corporate activity
Tables and charts
This report includes 30 images and tables including:
- Indexed LME copper prices and equities
- Indexed LME cash prices
- LME cash prices and 3-month spread
- LME regional exchange stocks (kt)
- Cancelled Warrants as % of LME Stocks
- COMEX, ShFE and INE (kt)
- Chinese cathode imports (kt)
- Price forecasts and world quarterly supply-demand balance (kt)
- European sectoral PMIs
- Italy- new residential building permits
- Italy - new non-residential construction permits
- Italy semis production trends
- Japanese vehicle production
- 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)
- 2022/23 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 refined production (kt)
- Copper stocks
- Copper prices and premia
- Copper supply-demand balance global summary (kt)
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global copper short-term outlook September 2023
Copper prices slide to a 4-month low on rising inventories and a stronger dollar before staging a recovery in the final days of September
$5,000
Commodity Market Report
Global copper short-term outlook August 2023
Macro-economic and supply-side developments will drive short-term prices, while expected surpluses will weigh on the market beyond 2023.
$5,000
Commodity Market Report
Global copper investment horizon outlook - Q3 2023
If the market is to satisfy copper’s energy transition demand requirements, new mine projects and higher scrap generation will be needed.
$10,000
