Commodity market report

Global copper short-term outlook March 2018

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about subscriptions

Already have subscription? Sign In

Further information

Contact us

Submit your details to receive further information about this report.

  • An error has occurred while getting captcha image
For details on how your data is used and stored, see our Privacy Notice.
 

Report summary

The past month has seen commodity prices come under strong downside pressure. The uncertainty that is hanging over these markets follows the announcement of US import tariffs and a stronger dollar. These have taken their toll on the complex as a whole, while copper has endured further weakness as exchange stocks and production continue to rise. Strong manufacturing activity in the US, Europe and China drove global demand growth of 2.1% in 2017. Industrial activity still looks broadly supportive for another few years of healthy demand expansion however risks to our outlook are emerging. The mine to trader market has been generally quiet during March. Concerns over copper concentrate supply disruptions appear to be easing, with new labour contracts now agreed in some high profile negotiations. Chinese smelters returned to the market later in the month, after a quiet start, and with fewer maintenance closures, bidding for material was reported to be in the low to mid-70s.

What's included

This report contains

  • Document

    Global copper short-term outlook March 2018

    PDF 656.05 KB

  • Document

    Global copper short-term outlook March 2018

    ZIP 787.00 KB

  • Document

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

    XLS 338.50 KB

Table of contents

Tables and charts

This report includes 23 images and tables including:

Images

  • Indexed LME cash prices and equities
  • LME cash price and 3-month spread
  • Regional exchange stocks
  • LME 3-month prices $/t
  • CFTC copper positions
  • Housing sales is a leading indicator for AC production
  • Manufacturing sector gains ground after the introduction of GST
  • European PMI

Tables

  • Copper key forecasts
  • Price forecasts and world quarterly supply/demand balance - (kt)
  • Concentrate market TCRCs
  • Global copper-in-concentrate stock changes - (kt Cu)
  • Demand: Table 1
  • Global quarterly refined copper consumption - kt
  • 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)

You may be interested in

    
            
            
            
            
            
            
            
    

Questions about this report?

    • Europe:
      +44 131 243 4699
    • Americas:
      +1 713 470 1900
    • Asia Pacific:
      +61 2 8224 8898