Commodity Market Report
Global copper short-term outlook October 2019
Report summary
Copper prices traded in a relatively narrow range through the start of October, reflecting the absence of the Chinese players in the market over Golden week. Meanwhile, a two-sided story in copper consumption continues to play out in 2019. The addition of semis capacity in some countries is supporting demand for copper. Elsewhere, however, disappointing semis production results in some of the world’s more established copper consuming countries is proving to be a drag on demand. The over hang of a global economic slowdown and ongoing trade war provide further reason for cautious consumer spending in the end-use market. Over recent weeks disruptions at mine sites have become more apparent across the Americas primarily brought about by labour unrest, putting production and deliveries of copper concentrate at risk.
Table of contents
- Market developments
- Japan
- Italy
- Vietnam
-
Concentrate markets
- China concentrate markets
- Other smelter news
- Blister/anode and scrap markets
- Production News
- Project development
Tables and charts
This report includes 20 images and tables including:
- LME cash price and 3-month spread
- European spot premium and Codelco term premium for Europe
- Price forecasts and world quarterly supply/demand balance (kt)
- Sluggish overall industrial production vs. strong auto production and property completion
- Manufacturing and construction PMI results have declined over the past 12 months
- Industrial production of wire and cable
- Strong external demand for copper tube
- 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 RC
- 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)
What's included
This report contains:
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