Commodity Market Report

Global copper short-term outlook June 2018

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29 June 2018

Global copper short-term outlook June 2018

Report summary

A weaker dollar, the suspension of the Tuticorin smelter and the start of labour negotiations at BHP’s Escondida saw copper leap to 4 year highs at the beginning of June. However, trade rhetoric from the US administration continues to upset risk sentiment and this has been reflected in sharply lower copper prices. Since our last monthly update, corporate activity has picked up considerably in the mining sector. A couple of high profile transactions have been agreed which will have implications for the advancement of significant projects. This resurgence in M&A activity implies a shift in the appetite for risk and indicates more confidence in the outlook for copper, from some investors at least.

Table of contents

    • Copper key forecasts
    • Market developments
      • Price forecasts and world quarterly supply/demand balance - (kt)
    • China
    • North America
    • Europe
    • Asia ex-China
      • Production and shipments of copper wire rod and copper semis - kt
    • Concentrate markets
      • 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)

Tables and charts

This report includes 21 images and tables including:

  • Demand changes between 2017 and 2020 (kt)
  • Regional refined demand 2018
  • Executive summary: Table 1
  • Copper and equities
  • Regional exchange stocks (kt)
  • SHFE front month vs LME cash prices
  • Chinese property starts, sales and completions
  • Concentrate market TCRCs
  • Supply-demand balances: Table 1
  • Demand: Table 1
  • Global quarterly refined copper consumption - kt
  • Supply: Table 2
  • Supply: Table 3
  • Supply: Table 4
  • Supply: Table 5
  • 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:

  • Document

    Global copper short-term outlook data tables June 2018.xls

    XLS 305.50 KB

  • Document

    Global copper short-term outlook June 2018

    PDF 400.05 KB

  • Document

    Global copper short-term outlook June 2018

    ZIP 482.40 KB

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