Copper prices reached six-month high in December on a weakening US dollar and news of China relaxing its zero-COVID control policy, but copper cathode end-users reduced term contracts coverage for 2023. Copper concentrate supply is expected to be in surplus this year, but we saw spot tightness just in the start of the year.
S&P Global Commodity Insights’ experts Yuen Cheng Mok, Han Lu and Jesline Tang discuss the driving factors for recent copper market and expectations for the new year.
Price assessments on Platts Dimensions Pro:
Clean Copper Concentrate CIF China - PCCCB00
Copper Concentrate Producer-Trader Differential - PCCCG00
Commodities Focus