Commodity market report
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30 Pages

Global copper short-term outlook June 2016

Global copper short-term outlook June 2016

Report summary

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. Copper prices over this past month have kept within one of the narrowest trading ranges so far this year, despite the latest turmoil surrounding the unexpected Brexit vote. Copper has been swayed not only by market sentiment both before and after the referendum, but also developments in the physical market including the Chinese trade figures for copper and the hefty delivery of stocks into LME warehouses which successfully flipped the market into contango. Right now the focus of the financial markets is firmly on the repercussions of the UK’s decision to leave the EU. Our view, over the short to medium term, is that copper prices will remain rather insipid, although quotes will remain choppy over this time frame.

What's included?

This report includes 2 file(s)

  • Global copper short-term outlook June 2016 PDF - 605.14 KB 30 Pages, 15 Tables, 8 Figures
  • Data tables copper STO June 2016.xls XLS - 277.50 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
      • Price forecasts and world quarterly supply/demand balance - (kt)
  • Demand
    • Brazil
    • Taiwan
    • Russia
      • Production and shipments of copper wire rod and copper semis - kt
  • Supply
    • Concentrate markets
      • Blister/anode and scrap markets
      • Production news

In this report there are 23 tables or charts, including:

  • Executive summary
    • Copper key forecasts
  • Supply-demand balances
    • LME 3 month daily price movements
    • SHFE/LME arbitrage and net trade
    • LME exchange stocks and forward spreads
    • CFTC copper positions
    • LME Commitments of traders report
    • Supply-demand balances: Table 1
  • Demand
    • UK copper consumption minimal as a proportion of global total
    • Paranapanema copper semis production on the decline as cathode sales rise
    • Taiwan's wire rod output struggles for momentum
    • Demand: Table 1
    • 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)
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