Commodity market report

Global copper short-term outlook October 2017

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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 remained range bound in the latter days of September and into early October at around the $6500/t level while the Chinese were absent due to the Golden Week holiday. However the market found renewed strength from a range of factors to push through to a peak of $7177/t by the middle of the October and to its highest level since July 2014. Although the market is now trading below recent highs amid some profit taking the gentle declining trend in LME inventories and buoyant global economic and manufacturing data continue to underpin prices.

What's included

This report contains

  • Document

    Global copper short-term outlook data tables October 2017.xls

    XLS 344.50 KB

  • Document

    Global copper short-term outlook October 2017

    PDF 694.41 KB

  • Document

    Global copper short-term outlook October 2017

    ZIP 826.88 KB

Table of contents

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

Tables and charts

This report includes 21 images and tables including:

Images

  • PMIs continue to indicate solid expansion in global manufacturing activity
  • Copper prices and equities
  • CFTC copper positions
  • LME Commitments of traders report
  • Disruptions at copper mines
  • Urban private housing data shows that sales and construction activities are slowing down

Tables

  • Executive summary: Table 1
  • Price forecasts and world quarterly supply/demand balance - (kt)
  • 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)
  • 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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