The soon-to-be-launched Savant Global Copper Smelting Index reports on smelting plant activity, using 20 high-resolution satellites and the latest AI to cover an estimated 90% of the smelting capacity for copper around the world.

The aim of it is to fix the gaps that exist on the coppy supply, which previously suffered from incomplete or incompatible data from multiple sources, lack of detail or lack of timeliness.

The index is being rolled out after a year of trials with copper producers, commodity traders and industry analysts. Subscribers choose from daily, weekly or monthly data options.

Earth-i launched its own Earth Observation satellite in 2018, capable of collecting high definition colour videos from space.

Paying subscribers will have access to detailed information and insights down to individual smelter level with daily updates. In addition, Earth-i will publish a free monthly global index from 18 October.

"Timeliness of data is critical and this marks a significant improvement over existing sources, as well as an objective process," said Guy Wolf, global head of market analytics at Marex Spectron.

"SAVANT delivers unique insights, not just to copper producers, traders and investors, but also to analysts and economists who use metals performance as strong indicators of wider economic activity. We see huge potential from this type of market intelligence and will continue working with Earth-i to develop further products."