Commodity market report
| |
29 Pages

Global copper short-term outlook January 2016

Global copper short-term outlook January 2016

Report summary

The copper metal market service short term outlook (STO) is published monthly and provides a forecast of copper supply and demand fundamentals over the next two-years. After posting a short lived recovery over the final week of December to ‘highs’ of $4750/t, copper prices have struggled through January under the weight of overwhelmingly negative economic sentiment and poor global manufacturing data. The persistent weakness in copper prices has taken its toll on producers at the upper end of the cost curve, with mining companies announcing output curtailments at several operations including Chibuluma South, Huckleberry and Minto. Given the ongoing weakness in prices, further production cuts are expected in 2016 to ensure that there is no unrealistic build in inventories in the market.

What's included?

This report includes 2 file(s)

  • Global copper short-term outlook January 2016 PDF - 478.76 KB 29 Pages, 15 Tables, 5 Figures
  • Data tables copper STO January 2016.xls XLS - 259.00 KB


As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.

This Copper Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.

Mining companies, investment banks and investors can use this report to understand the future direction of the ferrous and base metals market. It will also help you assess the impact of key industry issues and events on market balances and pricing.

From acquisitions to investments, Wood Mackenzie helps you plan, forecast and benchmark in the metals markets. Our proprietary database and analyst expertise combines robust production, consumption and pricing data with detailed analysis to identify market opportunities.

We give you a holistic view of the ferrous and base metals markets so you have the confidence to make strategic decisions.

  • Executive summary
  • Supply-demand balances
    • Market developments
      • LME copper price vs Shanghai stock exchange
      • Total exchange stocks (kt)
      • Price forecasts and world quarterly supply/demand balance - (kt)
  • Demand
    • Germany
    • China
    • Indonesia
  • Supply
    • Concentrate markets
      • Blister/anode and scrap markets
      • Production news

In this report there are 20 tables or charts, including:

  • Executive summary
    • Copper key forecasts
  • Supply-demand balances
    • Supply-demand balances: Image 1
    • Supply-demand balances: Image 2
    • Supply-demand balances: Table 1
  • Demand
    • Copper price falls faster than budget spend
    • Property starts imply deteriorating completions in 2016
    • Indonesian Wire Rod Exports (Year-to-date YoY change, 2015 vs 2014)
    • Production and shipments of copper wire rod and copper semis - kt
    • Global quarterly refined copper consumption - kt
  • Supply
    • Concentrate market TCRCs
    • Global copper-in-concentrate stock changes - (kt Cu)
    • Blister market RCs
    • 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)
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.