Copper Price OutlookCopper prices remained relatively stable over the last month, following a period of notable volatility at the beginning of the year. Following the multi-year highs reached at the end of 2017, prices have trended slightly downwards since, yet remain generally elevated. On 11 May, the spot price was USD 6,884 per metric ton, which was 0.4% lower than on the same day last month and was down 4.5% on a year-to-date basis. The price, however, was 24.7% higher than on the same day in 2017. Copper prices were healthy in mid-April before falling again at the end of the month amid growing oversupply concerns, as investors foresaw stronger than previously anticipated refined copper production. Lower prices persisted at the beginning of May amid the backdrop of a strengthening dollar, which helped offset upward price pressures stemming from positive trade data from China, the world’s largest consumer of copper. Meanwhile, Chile, the world’s largest copper producer, reported production growth of nearly 20.0% in Q1, exacerbating downward pressure on prices. Data from the second week of May signaled a potential upturn for prices as declining inventories on the London Metal Exchange and robust Chinese demand improved the outlook.
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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