Commodity Market Report
Global copper short-term outlook November 2022
Report summary
Copper prices have been swayed both up and down by a combination of factors this month; movement in the US dollar, erratic news flow out of China surrounding any relaxation or not of the country’s zero-Covid policies, persistent supply side issues and the uncertain macro-economic outlook given rising inflation and interest rates. Over the remainder of this year, we expect prices to remain volatile amid the uncertainty around the macroeconomic outlook and monetary policy decisions, given the better inflation readings that have emerged of late.
Table of contents
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Supply-demand balances
- China
- North America
- United States
- Asia ex-China
- Japan, South Korea and Taiwan
- Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Smelter production developments
- Other smelter news
- Mine production developments
- In other production news
- Mine project developments
- Corporate activity
Tables and charts
This report includes 24 images and tables including:
- LME prices - highs, lows and monthly average ($/t)
- LME copper prices vs trade weighted dollar index
- Managed money CFTC positions
- Cash to 3-month spread and LME stocks - total and on warrant
- Cancelled Warrants as % of LME Stocks
- Price forecasts and world quarterly supply-demand balance (kt)
- Vehicle production growth in South Korea
- Production and shipments of copper wire rod and copper semis - kt
- Global quarterly refined copper consumption - kt
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- 2022 Planned maintenance for Chinese smelters
- Monthly global imports of copper scrap and electronic scrap (gross weight kt)
- Blister market RC
- Monthly reported Chilean copper production
- Monthly reported Peruvian copper production
- 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 refined 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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