Commodity Market Report
Global copper short-term outlook October 2022
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Copper prices remain volatile. Although economic uncertainty, weak PMIs and fresh Covid-19 lockdowns in Chinese cities have placed downward pressure on the price, the market has been and is being supported on the downside by persistent outflows of metal from LME sheds. Furthermore, supply continues to disappoint as Chilean and Peruvian copper production lags behind last year's levels. The announcement by MMG that it would progressively slow operations at Las Bambas helped 3-month prices rally above the US$8,000/t level on 4 November.
Table of contents
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Supply-demand balances
- China
- Europe
- Italy
- Latin America
- Concentrate markets
- China concentrate markets
- Blister/anode and scrap markets
- Smelter production developments
- 3 more item(s)...
Tables and charts
This report includes the following images and tables:
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LME cash and 3-month prices and 3-month spreadLME regional exchange stocks - changes (kt)Chinese stocks - reported SHFE, bonded estimates (kt)
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Copper price and stock days of consumptionCopper supply/demand balance (kt)Price forecasts and world quarterly supply-demand balance (kt)Italy semis production trendsParanapanema semis productionBrazil quarterly semis exportsProduction and shipments of copper wire rod and copper semis - ktGlobal quarterly refined copper consumption - ktConcentrate market TCRCs
- 14 more item(s)...
What's included
This report contains:
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