Commodity Market Report
Global copper short-term outlook November 2021
Report summary
The extreme volatility seen in the copper price during October diminished in November, with the three-month price trading within a relatively narrow $600/t range. Nevertheless, copper price performance remained erratic during the month, swayed to the downside by the weak Chinese PMI, a strengthening dollar and news of another Covid-19 variant, Omicron. Meanwhile, low levels of visible inventories along side ongoing mine supply concerns continue to underpin prices.
Table of contents
-
Market developments
- Europe
- Russia and the Caspian
- Asia ex-China
-
Concentrate markets
- China concentrate markets
- Other smelter news
- Blister/anode and scrap markets
- Production news
- Project development
- Corporate activity
Tables and charts
This report includes 22 images and tables including:
- LME cash, 3-month prices and 3-month spread
- Regional LME exchange stocks (kt)
- COMEX, SHFE and INE stocks (kt)
- LME stocks (total and on warrant (kt)) and spreads ($/t)
- LME forward curve ($/t)
- Price forecasts and world quarterly supply-demand balance (kt)
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- Russia wire rod and cathode exports
- Production and shipments of copper wire rod and copper semis - kt
- Global quarterly refined copper consumption - kt
- 2021 Planned maintenance for Chinese smelters
- Monthly global imports of copper scrap and electronic scrap (gross weight kt)
- 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)
What's included
This report contains:
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