Commodity market report

Global copper short-term outlook November 2016

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Report summary

The copper market service short term outlook (STO) is published monthly and provides a forecast of copper supply and demand fundamentals over the next two years. Copper prices have raced ahead in recent weeks breaching the $6 000/t level on two occasions during November. Whilst the uptrend has been well in excess of that justified by the current state of the market driven by speculative fund buying there have nevertheless been some bullish developments underpinning an improvement in the fundamental outlook. These have included mounting supply side disruptions lower exchange stocks stronger than expected Chinese demand and more recently hopes of an infrastructure boom in the US following Trump's victory in the presidential election.

What's included

This report contains

  • Document

    Global copper short-term outlook November 2016

    PDF 574.90 KB

  • Document

    Global copper short-term outlook November 2016

    ZIP 702.17 KB

  • Document

    Global copper short-term outlook data tables November 2016.xls

    XLS 336.00 KB

Table of contents

  • Executive summary
  • Supply-demand balances
  • Demand
  • Supply

Tables and charts

This report includes 23 images and tables including:

Images

  • A significant chance that grid investment will exceed the original 2016 budget
  • US brass mill shipments tick higher after sustained period of weakness
  • Japanese wire and cable shipments have been under pressure in 2016
  • Supply-demand balances: Image 1
  • LME commitment of traders
  • Comex commitment of traders
  • SHFE vs open interest
  • LME 3-month prices

Tables

  • Copper key forecasts
  • Concentrate market TCRCs
  • Global copper-in-concentrate stock changes - (kt Cu)
  • Supply-demand balances: Table 1
  • 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)

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