Global copper short-term outlook February 2021 Report

Commodity Market Report 26 February 2021

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

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

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Recovery hopes tied to the progressive rollout of Covid-19 vaccines, government stimulus, readily available credit, and some brighter economic data continue to fuel the strong performance in base metals prices. However, the main impetus behind copper’s push to multi-year highs over the second half of February would appear to have more to do with an influx of speculative interest in commodities. The attention seems to be on copper’s longer-term green-focussed demand expectations in the post-Covid recovery era. Although the dynamics of the copper market have improved, this latest rally is not justified by the fundamentals.

Market developments
- Italy
- India
- South Korea
Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Production news
- Project development
- Corporate activity

Tables and charts

This report includes the following images and tables:

Indexed LME cash prices
SHFE front month vs open interest
Managed money LME positions

LME cash copper price and 3-month spread ($/t)
Regional LME exchange stocks (kt)
Off-Warrant LME stocks climb as official stocks slide (kt)
COMEX copper price and forward spread (c/lb)
ShFe and COMEX exchnage stocks (kt)
Price forecasts and world quarterly supply/demand balance (kt)
Concentrate market TCRCs
Global copper-in-concentrate stock changes (kt Cu)
Seasonally adjusted index of production in industry (manufacturing) and construction
15 more item(s)...