Commodity Market Report
Global copper short-term outlook June 2020
Report summary
Prices over the past months have continued to run ahead of the broader underlying fundamentals. In late June, three-month prices hit highs of over US$6000/t amid renewed signs of supply side disruptions now emerging in Chile whilst visible inventories continue to fall. Sentiment and prices continue to be supported by signs of sequential improvements in activity as the rest of the world begins to ease restrictions. Meanwhile, tightness in scrap availability in China could yet support higher demand for refined metal in the coming months.
Table of contents
-
Market developments
- China
- Europe
- India
-
Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Production news
- Project development
Tables and charts
This report includes 21 images and tables including:
- LME cash price and 3-month spread
- Regional exchange stocks (kt)
- Managed money CFTC positions
- Managed money LME positions
- Price forecasts and world quarterly supply/demand balance (kt)
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- Exports slowed in May
- Local governments release plans to support consumer goods
- European sectoral PMIs
- 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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