Commodity Market Report

Global copper short-term outlook June 2019

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28 June 2019

Global copper short-term outlook June 2019

Report summary

Following an initial negative reaction to weaker macro economic indicators from China, the Eurozone and the USA, copper prices reversed their downward trajectory in the second half of June. News that US-China trade talks are expected to resume helped lift prices, whilst additional support emerged off the back of news of a strike at Codelco's Chuquicamata mine. However, any gains began to subside over the final trading days of June as investors shifted to the side lines ahead of the G-20 summit. Further pressure emerged on the resolution of the strike at Chuquicamata.

Table of contents

  • Market developments
  • South Korea
  • Mexico
  • Iran
    • China concentrate markets
    • Other smelter news
    • Blister/anode and scrap markets
    • Production News
    • Project development
    • Corporate activity

Tables and charts

This report includes 23 images and tables including:

  • Managed money CFTC positions
  • Investment funds LME positions
  • LME cash price and 3-month spread
  • SHFE front month vs LME cash prices
  • Price forecasts and world quarterly supply/demand balance (kt)
  • Production of wire rod has deteriorated with wire and cable since 2018
  • Production of tube and home appliances have been flat
  • Mexico is expected to yield highest refined consumption growth rates in North America
  • Middle East refined consumption
  • Middle East refined consumption growth rates
  • Production and shipments of copper wire rod and copper semis - kt
  • Global quarterly refined copper consumption - kt
  • Concentrate market TCRCs
  • Global copper-in-concentrate stock changes (kt Cu)
  • 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:

  • Document

    Global copper short-term outlook data tables June 2019.xls

    XLS 308.00 KB

  • Document

    Global copper short-term outlook June 2019

    PDF 1.01 MB

  • Document

    Global copper short-term outlook June 2019

    ZIP 1.05 MB

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