WBMS: World Copper Deficit Intensifies Sharply during Jan-Jul

Published: Sep 21, 2017 14:30
World Bureau of Metal Statistics (WBMS) said on its website global copper supply deficit expanded noticeably during January-July.

SHANGHAI, Sept. 21 (SMM) – World Bureau of Metal Statistics (WBMS) said on its website global copper supply deficit expanded noticeably during January-July.

Copper Scrap Imports to Shrink in Q4 as China Recalls Approval for “Category 7” Scrap Imports, SMM Reports

Copper deficit was 197,000 tonnes during January-July, compared to 101,000 tonnes in 2016.

ICSG: Global Copper Deficit Expands in June

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
After contract rollover, weak demand weighs on Shanghai spot copper premiums [SMM Shanghai spot copper]
21 mins ago
After contract rollover, weak demand weighs on Shanghai spot copper premiums [SMM Shanghai spot copper]
Read More
After contract rollover, weak demand weighs on Shanghai spot copper premiums [SMM Shanghai spot copper]
After contract rollover, weak demand weighs on Shanghai spot copper premiums [SMM Shanghai spot copper]
[SMM Shanghai Spot Copper] Looking ahead to tomorrow, SHFE copper prices are expected to rise intraday and remain at a relatively high level. Coupled with the futures contract rollover, trading activity is likely to be muted, reflecting that the current price level is significantly suppressing real demand. After the rollover, the market will officially price around the 2607 contract, and close attention should be paid to the outflow of unmatched warrants. However, open interest for the SHFE copper 2606 contract currently stands at approximately 5,500 lots, indicating limited delivery participation. The concentrated release of warrants is therefore expected to exert relatively limited additional pressure on spot discounts. Supported by delivery-related dynamics, Shanghai spot copper discounts did not see a sharp decline. But if copper prices remain at current highs and demand fails to improve effectively, spot premiums may come under downward pressure.
21 mins ago
Downstream restocking and cargo pick-up, market supply decreases [SMM North China Spot Copper]
1 hour ago
Downstream restocking and cargo pick-up, market supply decreases [SMM North China Spot Copper]
Read More
Downstream restocking and cargo pick-up, market supply decreases [SMM North China Spot Copper]
Downstream restocking and cargo pick-up, market supply decreases [SMM North China Spot Copper]
Today in North China, spot #1 copper cathode prices against the front-month contract were reported at discounts of 190–130 yuan/mt, with the average discount at 160 yuan/mt, up 10 yuan/mt from the previous trading day. The average transaction price stood at 104,580 yuan/mt, down 1,025 yuan/mt from the previous trading day.
1 hour ago
Copper Cathode Rod Enterprises See Operating Rate Drop to 67.55% in May, Down 3.64% MoM
3 hours ago
Copper Cathode Rod Enterprises See Operating Rate Drop to 67.55% in May, Down 3.64% MoM
Read More
Copper Cathode Rod Enterprises See Operating Rate Drop to 67.55% in May, Down 3.64% MoM
Copper Cathode Rod Enterprises See Operating Rate Drop to 67.55% in May, Down 3.64% MoM
3 hours ago
WBMS: World Copper Deficit Intensifies Sharply during Jan-Jul - Shanghai Metals Market (SMM)