Copper smelting index increase during December to 88.9 (+0.3 from November)
14 January 2020 – The SAVANT Global Copper Smelting Index, a unique index launched in October 2019 by Earth-i and Marex Spectron, showed a small increase in global copper smelting activity from the previous month. The index was particularly strong in the first half of the month which offset the declines seen over the Christmas period.
Observations from December include:
○ December average was 88.9, up 0.3 from the November average of 88.6.
○ The range over the last 12 months has been 85.2 (April 2019) to 93.8 (July 2019).
○ Despite the strong first half of the month, the index ended the month broadly flat due to a reduction in Chinese smelting activity.
○ Smelter activity in China peaked on Dec 5th and the China index made new lows for the year in the latter part of the month. This was
primarily related to declines in activity observed at Shandong Fangyuan.
Dr Guy Wolf, Marex Spectron’s Global Head of Analytics, commented: “The index readings indicate that copper demand is relatively robust, particularly when considering the Christmas holiday effect and the well-publicised credit issues in China. With the Chinese New Year holiday period about to begin, it will be interesting to see what readings are observed as we exit that seasonal quiet period.”
Savant Index (China) from Sep 1st to Dec 31st 2019
Earth-i provides unique insights and analytics through Earth Observation. It utilises industry leading access to more than twenty high-resolution satellites and has developed advanced Artificial Intelligence and Machine Learning-led analytics to build on its satellite image processing expertise. Earth-i launched its own Earth Observation satellite in 2018, capable of collecting high definition colour videos from space.
The SAVANT Global Copper Smelting Index monitors up to 90% of the smelting capacity for copper around the globe. Using daily updated sources, including extensive use of geospatial data collected from satellites, the index reports on the activities at the world’s smelting plants offering subscribers unprecedented levels of coverage, accuracy and reliability. This dataset allows users to make better informed and more timely trading decisions.
To find out more please visit www.earthi.space/savant.
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