Commodity Market Report

Global copper short-term outlook August 2022

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Over the past month, 3-month copper prices have bounced back from lows of US$7,600/t to rally as high as US$8,318/t by 26th August. However, prices have since retreated below US$8,000/t following comments by US Federal Reserve Chairman, Jerome Powell, that interest rates would continue to rise until inflation was brought under control and that this would likely lead to a period of lower growth. As the market continues to be preoccupied by concerns over the health of the global economy, low visible inventories are lending price support as are disruptions to supply.

Table of contents

    • China
    • Europe
    • Germany
    • Italy
    • Concentrate markets
    • China concentrate markets
    • Blister/anode and scrap markets
    • Smelter production developments
    • Mine production developments
    • Other mine production developments
    • Mine project developments
    • Corporate activity

Tables and charts

This report includes 23 images and tables including:

  • Global PMIs turn lower
  • Chinese copper stocks - reported SHFE and estimated bonded (kt)
  • LME cash and 3-month prices and 3-month spread
  • Price forecasts and world quarterly supply-demand balance (kt)
  • Italy semis production trends
  • 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 Planned maintenance for Chinese smelters
  • Monthly global imports of copper scrap and electronic scrap (gross weight kt)
  • Blister market RC
  • Impact of power curbs to Chinese smelters and refineries
  • 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:

  • Document

    Global copper short-term outlook August 2022

    PDF 1.13 MB