Commodity Market Report

Global copper short-term outlook September 2023

Get this report*


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Copper has been struggling for direction through most of September amid signs of weakness in the physical market, concerns over Federal Reserve policy and a disappointing Chinese economic recovery. Three-month prices fell to their lowest level since May this year, after the Fed indicated that its policy would remain restrictive for longer. This pushed the dollar to a six-month high and, coupled with rising LME exchange inventories, dragged 3-month copper a low of US$8101/t. Although prices recovered from their lows and ended the month trading closer to the $8,300/t level, a sustained recovery in the price will need to be supported by follow through buying based on improved underlying fundamentals. This would seem unlikely given the upward trajectory in LME exchange inventories.

Table of contents

  • No table of contents specified

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Global Copper Short Term Outlook September 2023.pdf

    PDF 1.22 MB