Commodity Market Report
Global copper short-term outlook July 2021
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The cautiousness that emerged in June which dragged 3-month LME copper prices from a US$10,365/t high at the start of month continued into July. Softening demand in China, concerns over the Delta variant, a stronger US dollar and further liquation of long positions by the investors moved prices within a much narrower trading range in early July. It was not until the 21 July that prices began to recover, supported by a weaker US dollar, signs of a persistent decline in Chinese exchange stocks and supply disruptions from Peru (Las Bambas) and Chile (Escondida).
Table of contents
-
Market developments
- North America
- Europe
- Asia ex-China
-
Concentrate markets
- China concentrate markets
- Other smelter news
- Blister/anode and scrap markets
- Production news
- Project development
Tables and charts
This report includes 21 images and tables including:
- LME 3-month price ($/t) and LME stocks (kt)
- Chinese imports of copper by type and share, 2015 to 2021 (year to June)
- COMEX cash price and spread (clb)
- Indexed LME, COMEX and SHFE prices
- Price forecasts and world quarterly supply-demand balance (kt)
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- US industrial production
- US housing starts and completions
- Production and shipments of copper wire rod and copper semis - kt
- Global quarterly refined copper consumption - kt
- 2021 Planned maintenance for Chinese smelters
- Blister market RC
- Global mine production - breakdown by product type (kt copper in concentrate and leach output)
- Global copper refined consumption (kt)
- Global copper mine production (kt copper in concentrate and 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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