Commodity Market Report

Global copper short-term outlook October 2018

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31 October 2018

Global copper short-term outlook October 2018

Report summary

The past month has been notable for the sell off in US and global equities amid concerns about the outlook for major companies, the pace of US interest rate rises and the impact of the trade war between the US and China. Despite the sell off copper held steady through the month, trading within a much narrower range of between $150-200/t with prices only sliding over the final days of the month on the back of further weakness in the Chinese manufacturing PMI. Notwithstanding positive fundamentals for copper such as declining inventories, fears over the health of the Chinese economy and the impact of the trade war continue to dominate market sentiment.

Table of contents

    • Copper key forecasts
    • Market developments
      • Price forecasts and world quarterly supply/demand balance - (kt)
    • China
    • India
    • Turkey
      • Production and shipments of copper wire rod and copper semis - kt
    • Concentrate markets
      • 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)

Tables and charts

This report includes 25 images and tables including:

  • Executive summary: Table 1
  • Indexed copper prices and equities
  • LME copper price movements ($/t)
  • Copper cash to 3-month spreads ($/t)
  • Regional copper stocks (kt)
  • Cancelled warrants as a share of LME stocks (kt)
  • China's copper scrap imports to fall by more than 300kt this year compared to 2017 level
  • Industrial production at copper end-use industries slowed in August
  • Turkish IP and GDP year on year performance
  • PMI Manufacturing values
  • Turkish auto production, exports and domestic passenger car sales (including imports)
  • Concentrate market TCRCs
  • Supply-demand balances: Table 1
  • Demand: Table 1
  • Global quarterly refined copper consumption - kt
  • Supply: Table 2
  • Supply: Table 3
  • Supply: Table 4
  • Supply: Table 5
  • Supply: Table 6
  • Supply: Table 7
  • Supply: Table 8
  • Supply: Table 9
  • Supply: Table 10
  • Supply: Table 11

What's included

This report contains:

  • Document

    Global copper short-term outlook data tables October 2018.xls

    XLS 301.50 KB

  • Document

    Global copper short-term outlook October 2018

    PDF 1.04 MB

  • Document

    Global copper short-term outlook October 2018

    ZIP 1.07 MB

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