Global copper short-term outlook June 2021 Report

Commodity Market Report 30 June 2021

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Report summary

Concerns over inflation and a change in stance from the US Federal Reserve impacted prices this month. The news unnerved financial markets and prompted fund related profit taking in copper and the other metal markets. The strengthening US dollar and confirmation that China’s State Reserve Bureau would start selling parcels of metal (including copper) in the coming months, dragged prices even lower. Although copper has recovered from its June low of US$9,011/t, and trading closer to US$9,400/t, the market is far off its May peak of US$10,747.5/t.

Market developments
- China
- North America
- Europe
- India
- ASEAN
- Japan, South Korea and Taiwan (JKT)
Concentrate markets
- China concentrate markets
- Other smelter news
- Blister/anode and scrap markets
- Production news
- Project development
- Corporate activity

Tables and charts

This report includes 25 images and tables including:

Indexed LME cash prices
LME copper prices vs trade weighted dollar index
Russian cathode and wire rod trade 2009 to 2021 to-date (kt)

Asia and Europe exchange stocks - kt (monthly changes)
US exchange stocks - kt (monthly changes)
Price forecasts and world quarterly supply-demand balance (kt)
Regional manufacturing PMIs
Concentrate market TCRCs
Global copper-in-concentrate stock changes (kt Cu)
Production of EVs remains strong underpinned by government support
Strong housing starts over the previous five years will lead to robust housing completions
US housing starts and completions
EU index for production in industry, construction and manufacturing
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)