The copper market service short term outlook (STO) is published monthly and provides a forecast of copper supply and demand fundamentals over the next two-years. The positivity that emerged in the copper market in late 2016 has continued into the New Year with the markets off to an eventful start. Copper has climbed to new two-month highs, buoyed by increased speculative interest, a softer dollar, declining LME inventories and a generally upbeat economic outlook. However, with China out of the market during its week-long Lunar New Year holiday and increasingly unpredictable policies emerging from the US, prices have begun to recede as the month closes out. This is despite the increasing threat of strike action at Escondida and continued uncertainty about when concentrate exports from Indonesia may resume.