Copper Price OutlookCopper prices surged to an over four-year high on 8 June, but have trended firmly downward since, dropping to the lowest level in nearly a year on 6 July on a stronger U.S. dollar and intensifying trade war concerns. On 6 July, the spot price was USD 6,279 per metric ton. The price was 12.9% lower than on the same day last month, and was down 12.9% on a year-to-date basis. However, it was 7.8% higher than on the same day in 2017. Prices peaked at the beginning of June, boosted by a weak dollar and fears that Chile’s Escondida copper mine, the world’s largest, would be crippled by industrial action. Nevertheless, concerns of labor-related supply disruptions in key producing regions moderated through June. Coupled with fears of a full-scale trade war between the U.S. and its trading partners, this exerted strong downward pressure on copper prices. Longer-term supply fears were further quelled in late June by the Chilean government’s announcement of a USD 1 billion capitalization into state-owned mining firm Codelco.
Copper Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Copper Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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