Commodity Market Report

Global copper short-term outlook December 2020

Get this report


You can pay by card or invoice

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

- FAQs about online orders
- Find out more about subscriptions

The copper price is on course to end 2020 over $3,500/t above its March lows, despite the contraction in global demand outside China. Encouraging news on vaccines and expectations that demand for copper will rise on the back of government’s pledges to decarbonise their economies has continued to attract speculative interest. Nevertheless, we maintain our view that the market is headed for a period of oversupply by 2022 after a couple of years of above average mine supply. This will push the refined market into surplus in that year which should weigh on prices as stocks in days of consumption rise.

Table of contents

    • China
    • Europe
    • North America
    • India
    • ASEAN
    • Japan, South Korea and Taiwan (JKT)
    • Latin America
    • Rest of the World
    • China concentrate markets
    • Blister/anode and scrap markets
    • Production news
    • Project development
    • Corporate activity

Tables and charts

This report includes 21 images and tables including:

  • LME 3-month price, highs and lows ($/t)
  • Managed money CFTC positions
  • Managed money LME positions
  • LME copper prices vs trade weighted dollar index
  • Price forecasts and world quarterly supply/demand balance (kt)
  • Global Manufacturing PMI
  • Concentrate market TCRCs
  • Global copper-in-concentrate stock changes (kt Cu)
  • Wind power investment and exports of copper-containing products
  • Commercial and passenger vehicle production in China
  • 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:

  • Document

    Global copper short-term outlook December 2020

    PDF 1.44 MB