Copper futures recovered some ground to trade near $3.8 per pound, but remained close to the lowest level since February 2021 after suffering their worst week in a year, as fears of a demand-sapping recession continued to hang over the market. Still, news that China eased Covid-19 restrictions in Shanghai and relaxed testing mandates lifted prospects for higher demand. Also, data showed that Chinese imports of copper concentrate hit a record high of 2.19 million in May, bringing imports up 6.1% to 10.42 million during the first five months of the year. On the production side, workers at the world's largest copper producer Codelco in Chile reached an agreement with the company to end a national strike over the decision to close the troubled Ventanas smelter.

Historically, Copper reached an all time high of 5.02 in March of 2022. Copper - data, forecasts, historical chart - was last updated on June of 2022.

Copper is expected to trade at 3.68 USd/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3.45 in 12 months time.

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Copper



Price Day Month Year
Gold 1,825.38 2.65 0.15% -1.66% 3.65%
Silver 21.29 0.149 0.70% -2.99% -17.30%
Copper 3.84 0.0575 1.52% -11.52% -10.29%
Steel 4,436.00 86.00 1.98% -6.10% -9.73%
Iron Ore 121.50 5.00 4.29% -10.99% -44.90%
Lithium 477,500.00 0 0% 1.92% 436.52%
Platinum 915.27 7.23 0.80% -4.56% -14.22%


Copper
Copper futures are widely traded on the London Metal Exchange (LME), at the COMEX and on the Multi-Commodity Exchange in India. The standard contract is 25,000 lbs. Copper is the third most widely used metal in the world. Chile accounts for over one third of world's copper production followed by China, Peru, United States, Australia, Indonesia, Zambia, Canada and Poland. The biggest importers of copper are China, Japan, India, South Korea and Germany. Copper market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our copper market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
3.84 3.78 5.02 0.60 1988 - 2022 USd/LB Daily