Commodity Market Report
Global copper short-term outlook July 2020
Report summary
Market sentiment for copper remained extremely bullish during July. The ongoing threat of actual and potential supply disruptions and better than anticipated demand in China provided solid underlying support to the price. This was further underpinned by a weaker dollar but also reflected a background of declining and extremely low visible inventories. Confusion around China’s scrap policy could yet support higher demand for refined metal in the coming months.
Table of contents
-
Market developments
- China
- Italy
- ASEAN
-
Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Production news
- Project development
Tables and charts
This report includes 26 images and tables including:
- Indexed LME cash prices
- LME copper prices vs trade weighted dollar index
- LME cash copper price and 3-month spread ($/t)
- Chinese monthly cathode imports (kt)
- Chinese scrap imports, annual and YTD (gross weight,kt)
- Price forecasts and world quarterly supply/demand balance (kt)
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- Investment-driven growth
- Consumption-driven growth
- Italian auto production and registrations recover from the April lows, but still in negative territory
- Italian semis output (kt)
- Industrial production
- Total semis exports
- The US copper tube imports
- 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:
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