Copper Price OutlookCopper prices dipped slightly in recent weeks following some profit-taking and signs of weaker demand, after briefly brushing past the USD 7,000 per metric ton mark in mid-late October. However, the red metal has still had a strong 2017 to date, with prices up substantially since the start of the year. On 1 December, the spot price was USD 6,809 per metric ton, which was down 1.3% from the same day last month and was 23.3% higher on a year-to-date basis. Moreover, the price was up 17.6% from the same day in 2016. Hints of weaker demand from China, the world’s top consumer, dampened prices over the last month. Growth in Chinese factory output, retail sales and fixed-asset investment all dipped in October, with a faster slowdown in factory output and retail sales growth than analysts had expected. In addition, there are signs of tightening credit conditions as the government takes steps to prevent the formation of asset bubbles, and winter is approaching—a season of typically lower demand from the Asian giant. On the supply side, labor disputes have flared up over the last month. In Peru, the world’s second-largest producer, workers have been on strike since mid-November at mines run by Southern Copper after talks between the company and unions failed. Workers also downed tools for 24 hours at Chile’s Escondida mine in protest of layoffs, while the threat of strike action looms over the country’s Quebrada Blanca mine. However, these supply disruptions failed to lift prices.
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
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.