Copper Price OutlookCopper prices fell over the past month amid fears of slowing Chinese growth and after yet another episode of brinkmanship between the U.S. and China rattled commodity markets. On 11 May, the red metal closed the day at USD 6,118 per metric ton, which was 5.3% lower than on the same day last month. Although the price of copper was up 2.7% on a year-to-date basis, it was 11.3% lower than on the same day in 2018. After holding their ground in April, copper prices subsequently fell in May. Decreasing trade tensions in April led inventory levels to rise on prospects of greater demand from Chinese producers. However, China’s April PMI revealed cracks in the manufacturing sector, wrongfooting market participants and thus sending copper prices down at the start of May. Moreover, prices dropped further in the following days after U.S. President Donald Trump unexpectedly reignited trade tensions by raising tariffs to 25% on USD 200 billion of Chinese goods, which came into effect on 11 May. Additional levies on China’s exports are likely to hurt industrial production, curbing demand for the red metal in the process.
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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