Commodity Market Report
Global copper short-term outlook October 2021
Report summary
Commodities have witnessed higher prices over the past month, and especially those more exposed to higher energy prices. The sharp decline in LME copper stocks, as material on-warrant fell to multi-year lows, saw copper prices hit a 5-month high, before retreating by the end of the month. Raw material availability, labour shortages, logistical challenges and more recently, soaring energy prices are constraining production in copper end-use sectors, particularly in China. The ongoing saga in the Chinese property sector also continues to weigh on demand prospects. However, in North America and Europe, demand strength is being sustained with positive signs for 2022.
Table of contents
-
Market developments
- North America
- 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:
- Indexed LME cash prices
- LME warrant bandings
- LME regional stocks and cash to 3-month backwardation (US$/t)
- Cancelled Warrants as % of LME Stocks
- Spot and annual premia - Europe (US/t)
- Price forecasts and world quarterly supply-demand balance (kt)
- Concentrate market TCRCs
- Global copper-in-concentrate stock changes (kt Cu)
- US monthly wire rod production trends
- 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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