Open pit copper mine

Copper Price Outlook

Copper 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)

2013  2014  2015  2016  2017  
Copper7330.44  6863.26  5508.57  4871.3  6171.78  

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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Copper Historical Price Chart


Copper historical price chart
Note: Copper prices in USD per metric ton (mt). Daily prices.

Sample Report

Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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