Commodity Market Report

Global copper strategic planning outlook - Q1 2022

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25 March 2022

Global copper strategic planning outlook - Q1 2022

Report summary

The near to medium-term outlook for the copper market will be overshadowed by geopolitical uncertainties and rising costs, particularly for energy. Volatility in the price will therefore remain a feature of the market as will ongoing supply chain disruption. Over the period 2023 to 2025, prices will come under pressure as supply growth outstrips that of demand as output from new projects hits the market. Nevertheless, our view of the long term is unchanged; additional capacity is required to satisfy demand from the Energy Transition.

Table of contents

  • Long-term outlook
  • Medium-term outlook
  • Main risks around our base case copper market outlook
  • Scenario analysis
  • Overview
  • Changes since the last quarter
  • China
  • Europe
  • North America
  • Latin America
  • Asia ex-China
  • Rest of world
    • China scrap policy
    • Global scrap outlook
    • Mine projects
    • Base Case
    • Probable
    • Possible
    • Mine Disruption Allowance
    • Strategic planning outlook - Long term supply considerations
    • Geopolitical landscape
    • Reserves and resources
    • Environmental challenges
    • Social governance policy
    • Technology
    • Alternative sources of supply - scrap
    • Summary
    • Africa
    • Asia (excluding China)
    • China
    • Europe
    • Latin America and the Caribbean
    • Middle East
    • North America
    • Oceania
    • Russia and the Caspian
    • Summary
    • Africa
    • Asia (excluding China)
    • China
    • Europe
    • Latin America & Caribbean
    • Middle East
    • North America
    • Oceania
    • Russia and the Caspian
    • Summary
    • Africa
    • Asia (excluding China)
    • China
    • Europe
    • Latin America & Caribbean
    • Middle East
    • North America
    • Oceania
    • Russia and the Caspian

Tables and charts

This report includes 48 images and tables including:

  • Global copper supply and primary demand
  • Stock days of consumption and price
  • Project sanctioning
  • Global metal balances & LME copper price (2022$)
  • Global supply/demand balance global summary (kt)
  • Price scenarios US$/t (real 2022$)
  • Price scenarios
  • Total copper consumption by industry sector 2000-2040
  • Regional refined copper consumption 2000-2040
  • Total copper consumption by property 2000-2040
  • Total copper semis production 2000-2040
  • Changes in refined copper consumption by region
  • Regional refined copper consumption - kt
  • Chinese demand outlook by sector (kt)
  • China copper consumption breakdown
  • Mexican share of regional refined consumption to rise
  • Refined copper consumption forecast regional breakdown 2020-40
  • Indexed Copper Consumption Growth - 2010-2040
  • New standards for renewable copper material
  • New standards for renewable brass material
  • Global copper scrap use as a percentage share of total demand, 2000-2040
  • Chart: Mine disruptions summary
  • Disruptions summary (copper in concentrate and SxEw cathode)
  • Chart: Distribution of currently identified reserves and resources
  • Mined and scrap copper share of total consumption
  • Regional copper mine production - kt Cu
  • Chart: Africa copper mine production - Mt Cu
  • Chart: Asia (excl. China) copper mine production - Mt Cu
  • Chart: Europe copper mine production - Mt Cu
  • Chart: Latin America and the Caribbean copper mine production - Mt Cu
  • Chart: Middle East copper mine production - Mt Cu
  • Chart: North America copper mine production - Mt Cu
  • Chart: Oceania copper mine production - Mt Cu
  • Chart: Russia and the Caspian copper mine production - Mt Cu
  • Copper smelter production capability (kt Cu)
  • Chart: Africa copper smelter production capability - Mt Cu
  • Chart: Asia (excl. China) copper smelter production capability - Mt Cu
  • Chart: Europe copper smelter production capability - Mt Cu
  • Chart: Latin America and the Caribbean copper smelter production capability - Mt Cu
  • Chart: North America copper smelter production capability - Mt Cu
  • Chart: Russia and the Caspian copper smelter production capability - Mt Cu
  • Regional copper refinery production capability - kt Cu
  • Chart: Africa copper refinery production capability - Mt Cu
  • Chart: Asia (excl. China) copper refinery production capability - Mt Cu
  • Chart: Europe copper refinery production capability - Mt Cu
  • Chart: Latin America and the Caribbean copper refinery production capability - Mt Cu
  • Chart: North America copper refinery production capability - Mt Cu
  • Chart: Russia and the Caspian copper refinery production capability - Mt Cu

What's included

This report contains:

  • Document

    Global copper strategic planning outlook - Q1 2022

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