IWCC Engage the LME on Responsible Sourcing
The London Metal Exchange has announced new proposals on responsible sourcing standards in a position paper launched for public consultation. Prior to the release of the LME paper the IWCC and partner organisations, were consulted and engaged with the LME to refine the initial proposals. The IWCC focused on the classification of copper, potential market distortion if a significant number of registered Grade A brands failed to meet the LME’s criteria, and the integration of non-physical criteria into a physically defined standard. Many of the IWCC’s proposals were accepted. Conversations will continue with the LME as the current proposals develop further ahead of their planned roll out in 2019. The current position paper is now open for public consultation until 30 November 2018 and the IWCC is expected to make further comment after consultation with industry.
IWCC/SHFE China Seminar
The annual IWCC/SHFE China Seminar will be held in Shanghai during the CESCO Asia Copper Week. The half day Seminar at the Ritz Carlton Hotel, Pudong, on 16th November will discuss the major issues affecting the copper industry in China and beyond including; China’s Macro Economic Development, SHFE Copper Options and a ‘Hot Spot’ analysis of China’s copper industry from environmental regulations to the potential ‘trade war’.
For more information or the register to attend please contact us.
IWCC/ICA Energy Transition Workshop
ICA and the IWCC hosted a joint workshop immediately prior to LME Week. The well attended event heard from expert speakers on rising demand for copper in the household appliances sector, and in electric motors and generators. There was also a paper describing the potential impact on copper demand arising from China’s One Belt One Road policy. These presentations were followed by the LME’s Chief of Staff, Georgina Hallett, presenting the LME’s draft proposals on Responsible Sourcing. The Workshop concluded with a paper by Andrea Vaccari, ICA, presenting on ICA’s work to develop a responsible sourcing ‘Copper Mark’ for the sector.
Latest Copper Forecasts Published
The latest IWCC forecasts for the supply and demand for copper for 2018 and 2019 have just been announced. The figures, produced by the copper industry, indicate that refined copper production in 2018 is forecast to be 23.6mt, with a 2019 forecast of 24.28mt. Global reported refined copper demand in 2018 is expected to increase by 3.0% to 23.849mt, and by a further 2.5% to 24.445mt next year. These numbers would suggest the copper market might have a statistical deficit this year and next; but the market remains broadly in balance.
The latest detailed figures with a breakdown across the world’s major economies and copper producing regions can be accessed on in the Members Area of this website.
2019 Technical Seminar: China
The 2019 IWCC Technical Seminar will be held in Shanghai from 3-7 March. The event will focus on Downstream Processes in the semis fabricating process. There will be sessions covering thermal and surface treatments, flatness improvement, slitting and logistics, measurement and testing. The plant visit programme will be in Tongling and is expected to include tube, foil & strip plants.
Registration forms will be issued in November and details will soon be available on the IWCC website. To express an interest in attending, please contact us.