Copper Price OutlookCopper prices sank to a five-month low in early June, as reignited U.S.–China trade tensions rattled commodity markets. On 7 June, the red metal closed the day at USD 5,778 per metric ton, which was down 6.3% from the same day last month. Moreover the price of copper was 2.9% lower on a year-to-date basis, and was down 21.2% from the same day in 2018. The price for copper nosedived at the start of May after President Donald Trump wrongfooted analysts by unexpectedly hiking tariffs from 11% to 25% on USD 200 billion of Chinese. The news raised anxieties over a slowdown in China’s industrial sector, thus sending prices for the red metal down throughout the month. Moreover, weakness in Germany’s industrial sector in May and the dollar’s stability against major currencies added further downward pressure on prices. However, beyond the trade tensions supply-side constraints have been bubbling away. Scheduled maintenance work in Chinese smelters, periodic roadblocks at Peru’s Las Bambas mine, and political uncertainty and power shortages in Zambia have recently weighed on output.
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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