The copper metal market service short term outlook (STO) is published monthly and provides a forecast of copper supply and demand fundamentals over the next two-years. Certainly for this May, the old adage of "sell in May and go away" seems to be at the forefront of market sentiment. After trading to a high of $5074/t on the final trading day of April, the price trend quickly reversed at the start of May and prices have remained under pressure through the month. The release of a stream of disappointing macro data, combined with the strengthening of the dollar during May, have been contributory factors. Looking ahead, upside potential for prices short term is expected to remain capped. This is in spite of the ongoing tightness in the scrap market, which is providing some support to refined demand and is helping to restrict the extent of the market oversupply.
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Global copper short-term outlook May 2016 PDF - 511.30 KB 30 Pages, 15 Tables, 6 Figures
Data tables copper STO May 2016.xls XLS - 270.00 KB
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Commodity market report | May 2016
Global copper short-term outlook May 2016
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