SAVANT, Earth-i’s geospatial intelligence service for the metals markets, took a big step forward on 21st October with the formal launch of its Global Copper Smelter Index. Using geospatial data acquired from Earth Observation satellites, the Index monitors the activity status of up to 90% of the world’s copper smelters, providing accurate and timely insights into the supply of copper to the world’s metal markets.
Developed by Earth-i’s team of developers and data scientists, the SAVANT Global Copper Smelter Index applies machine learning and AI to a wealth of data available from satellites to deliver rich insights. As a collaborative venture with Marex Spectron, and with funding from the UK and European Space Agencies, the SAVANT programme examined the critical points in the supply chain for copper, analyzing activity indicative of outputs and visible from Earth Observation satellites.
Working closely with industry and chosen group of trialists, the SAVANT team identified smelter activity as highly indicative of the availability of finished copper to the world’s trading markets, and to manufacturing industry. Using satellite imagery ensures the greatest possible coverage of the world’s smelting plants, and therefore the accuracy of the index. Correlation with industry production data further proved the high confidence levels the Index offers in tracking fluctuations in the supply of this crucial metal in the world economy. The launch of the Index follows a year of trials and user-testing, with leading copper producers, commodity traders and industry analysts, the SAVANT index is now being launched to subscribers, with daily, weekly or monthly data options. The Index is easy to access and utilize via a user-friendly SAVANT portal, will full access to the data available via an API as an option.
Launching the week before the calendars most important metals event – LME Week – the SAVANT Global Copper Smelter Index is set to transform the speed and accuracy of insights into this critical supply chain for the world economy.
This is the first product in a series of SAVANT metal indices, with further services to follow.