Copper Market Outlook


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Copper Market Outlook

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  • Four detailed reports per year
  • Access to CRU’s analysts in London, Beijing, Santiago and the US
  • Full online access to all of CRU’s historical data and statistics
  • Online access to the full service

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CRU's Copper Market Outlook, September 2016 Interim Update, published Friday 16th September, gives a revised supply / demand and price view prior to the start of the annual cathode and TC/RC contract negotiations. Senior Consultant Matthew Wonnacott writes "there has been a relatively benign market environment in the last few months, but we still expect the price to come under downward pressure by early next year".

The Essential resource for the Copper Market

In order to provide industry stakeholders with a regularly-updated and in-depth understanding of the market, CRU utilises our team of more than 15 full-time copper experts in our global offices to produce our Copper Market Outlook. Our analysts in China enable us to keep abreast of developments in supply and demand in this important market.

Each of the key market fundamentals – production, consumption, balance and prices – is comprehensively dissected four times a year, with quarterly copper price forecasts for the next two years and annual copper forecasts thereafter out to five years provided for the following:

  • Refined consumption
  • Mine production
  • Smelting production
  • Concentrates balance
  • Copper prices
  • Refined production
  • Refined market balance (China and World ex-China)
  • Exchange and other reported stocks
  • LME prices

New enhancements to CRU’s Copper Market Outlook:
We are pleased to announce that we have further enhanced this service with a number of improvements:

  • Production of semi-fabricated products by region plus estimates of scrap consumption and refined copper consumption by type of semi-fabricated product.
  • Chinese smelter and refinery production showing output from existing operations and projects.
    • Top 10 tables showing Top 10 countries for copper production and in separate tables we show Top 10 miners, smelters and refineries by attributable production.
  • The supply/demand balance has been reconfigured as global production less consumption less government purchases. Stocks have been summarised under 3 key headings: global exchange stocks, Chinese bonded warehouse stocks, and producer & consumer inventory.
  • Mining costs now forms a regular part of our analysis and discussion on copper price movements and levels of price support. The future trajectory of mine costs also forms an important consideration in the compilation of our price forecasts. This work makes use of CRU’s Copper Mining Cost Model.
  • Scenario analysis has been included to enable us to consider the impact on the supply/demand balance and price outlook of a major risk to our base case forecasts. This work has been made possible through the use of CRU’s proprietary Copper Price Model. 

Why CRU for Copper?

  • An established and truly independent understanding of the entire copper industry, based on 40 years experience covering the market
  • More than 15 full-time industry experts and consultants covering the copper market
  • Access to the team to answer any questions you may have on the market, whether to clarify something in a report or about market developments between reports
  • Comprehensive service based on detailed coverage of the entire value chain - raw materials, sulphuric acid, by-products, refined metal, semi-finished products and price risk
  • Dedicated offices in London, Beijing, Santiago and the US provide a truly global perspective of all factors impacting the industry

For the latest copper price news or for more details on commodity market reports, contact us today.

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