Commodity Market Report
Global copper short-term outlook May 2020
Report summary
Prices continued to make gains throughout May, although it has been somewhat of an uneven path higher. The resumption of the Chinese economy has been a central factor to this upward trend, which saw prices peak at a two-month high of US$5,464/t. Although the outcome of the “Two Sessions” meeting was supportive, the announced polices failed to deliver any additional stimulus over and above what had already been anticipated by the market. Overall the market remains cautiously optimistic about a demand-led recovery. Sentiment continues to be supported by the ongoing supply disruptions and tightness in scrap availability.
Table of contents
-
Market developments
- China
- Asia ex-China
- Brazil
-
Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Production news
- Project development
Tables and charts
This report includes 20 images and tables including:
- LME cash copper price and 3-month spread ($/t)
- SHFE front month vs LME cash prices
- Spot premia
- Price forecasts and world quarterly supply/demand balance (kt)
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- China's economic targets for 2020
- Q1 GDP growth for Asia economies
- Brazil 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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