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Briefing
Copper Markets
Critical Issues
Copper Prices Rise on Warehouse Delivery Orders
Copper Prices on the Upside
Energy Crisis in Chile: Impacts on Copper Production and on Inflation
Background:
Copper has led the early 2009 rebound in base metals as it had the smallest surplus (as a percent of supply) and China's copper imports reached an all-time high in March. China's import rebound was driven by strategic reserve buying and the re-stocking of depleted inventories to take advantage of low prices - not to reflect (as yet nonexistent) strong growth in global manufacturing or consumption. Bankruptcies in the U.S. auto sector, dismal auto sales among Europe and Japan's carmakers and weak housing markets have obviated metal stockpiling in the G3. Non-precautionary metal demand has been flat globally, leaving the metal price uptrend without any real economic backing. Though copper has been the best-performing base metal this year, copper is likely to settle in 2009 at lower prices on average than 2008 but above the 2008 low.
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Associated Readings
Analysis
Chilean Copper Commission
Sep 29, 2009
H1 2009 Copper Market Report
Analysis
Bloomberg
Jul 29, 2009
Copper Peaking as Inventories Signal Slowing Demand (Update1)
Analysis
Fitch Ratings (free registration required)
Jul 15, 2009
Base Metals Outlook: No Recovery Without an Economic Recovery
Analysis
Citigroup
Jun 12, 2009
Metals and Mining: A Layman’s Look at the Future of Copper
News
Asia Times
Jun 12, 2009
China's copper deal back in the melt
Blogs
Seeking Alpha
Jun 09, 2009
Base Metals Report: Aluminum and Copper
Opinions
Brown Brothers Harriman
May 18, 2009
Copper and Currencies
Analysis
Fitch Ratings (free registration required)
Jun 09, 2009
Latin America Metals and Mining: Impact of Credit Crunch
Analysis
UniCredit Global Research
Jun 08, 2009
Overweight precious metals and the agro sector
Blogs
Seeking Alpha
Apr 24, 2009
Is a Copper Bubble Now Forming?
Analysis
International Copper Study Group
Apr 22, 2009
Impact of lower copper prices and world economic downturn on copper supply and demand
News
Reuters
Oct 23, 2008
Copper super cycle is over, says No. 1 producer Codelco
Analysis
Fortis/VM Group
Aug 25, 2008
Metals and Plastics Outlook: No gain without pain but at least it's evenly shared
Analysis
International Copper Study Group
Oct 09, 2008
Copper Forecast 2008-2009
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