LME copper futures started the March month above $4.1 per pound, but 3% below a near-decade high of $4.3 touched on February 24th as risk-off sentiment hit wider financial markets after a spike in bond yields. Meantime, both the official NBS Manufacturing PMI and the Caixin survey showed that China’s manufacturing recovery weakened for a third month in February. Copper prices soared more than 15% in February, its best monthly performance since November 2016, driven by low inventories and expectations of higher industrial demand on the back of stimulus and vaccine-fueled economic recovery. The commodity, considered an economic barometer, has been in a massive rally from its March’s multi-year lows on the back of unprecedented measures from central banks and governments to shore up economic growth.

Historically, Copper reached an all time high of 4.63 in February of 2011. Copper - data, forecasts, historical chart - was last updated on March of 2021.

Copper is expected to trade at 4.04 USd/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3.72 in 12 months time.

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Copper


Copper
Copper futures are widely traded on the London Metal Exchange (LME), at the COMEX and on the Multi-Commodity Exchange in India. The standard contract is 25,000 lbs. Copper is the third most widely used metal in the world. Chile accounts for over one third of world's copper production followed by China, Peru, United States, Australia, Indonesia, Zambia, Canada and Poland. The biggest importers of copper are China, Japan, India, South Korea and Germany. Copper market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our copper market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Energy Price Day Weekly Monthly YTD Date
Crude Oil
USD/Bbl
64.7500 0.92 1.44% 5.28% 11.70% 33.45% Mar/05
Brent
USD/Bbl
67.7700 1.03 1.54% 5.20% 11.91% 30.83% Mar/05
Natural gas
USD/MMBtu
2.7220 0.02 -0.87% -1.77% -5.55% 7.21% Mar/05
Gasoline
USD/Gal
2.0177 0.02 0.99% 3.45% 20.47% 43.09% Mar/05
Heating oil
USD/Gal
1.9141 0.02 0.95% 3.85% 9.51% 28.98% Mar/05
Ethanol
USD/Gal
1.7600 0.02 -0.85% 4.14% 2.92% 22.82% Mar/04
Naphtha
USD/T
588.16 17.55 3.07% 5.85% 10.46% 35.93% Mar/04
Propane
USD/Gal
0.97 0.00 0.24% 6.15% 12.33% 50.27% Mar/04
Uranium
USD/Lbs
27.6000 0.00 0.00% -3.33% -6.91% -10.10% Mar/04

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,696.51 0.68 -0.04% -2.13% -7.30% -10.54% Mar/05
Silver
USD/t.oz
25.208 0.10 -0.40% -5.31% -7.50% -4.37% Mar/05
Platinum
USD/t.oz
1,117.24 8.76 -0.78% -6.01% -3.43% 4.81% Mar/05

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,421.7500 3.00 0.21% 1.72% 2.47% 7.99% Mar/05
Wheat
USd/Bu
654.7500 5.00 0.77% -0.04% -0.15% 2.22% Mar/05
Palm Oil
MYR/T
3,767.00 36.00 0.96% 0.67% 9.67% 4.64% Mar/05
Cheese
USD/Lbs
1.6030 0.02 -1.29% 1.26% 0.88% -2.61% Mar/04
Milk
USD/CWT
16.25 0.03 0.19% 3.83% 3.90% 2.85% Mar/05
Rubber
JPY/Kg
268.00 2.00 -0.74% -1.25% 7.72% -0.30% Mar/05
Orange Juice
USd/Lbs
109.10 1.00 0.93% 1.11% -1.93% -11.48% Mar/04
Coffee
USd/Lbs
131.15 2.10 -1.58% -4.79% 5.72% 2.26% Mar/03
Lumber
USD/1000 board feet
981.00 1.00 0.10% -2.58% 7.14% 12.36% Mar/04
Oat
USd/Bu
360.0000 0.50 -0.14% -2.37% 3.08% -0.21% Mar/05
Wool
AUD/100Kg
1,310.00 1.00 0.08% 0.31% 1.95% 11.87% Mar/04
Cotton
USd/Lbs
85.59 1.31 -1.51% -3.00% 3.44% 9.56% Mar/04
Cocoa
USD/T
2,637.00 117.00 -4.25% -2.51% 1.93% 1.31% Mar/04
Rice
USD/cwt
13.1250 0.04 -0.30% 2.50% 0.96% 7.23% Mar/04
Canola
CAD/T
814.20 14.70 -1.77% 3.05% 17.61% 29.34% Mar/04
Sugar
USd/Lbs
16.26 0.12 0.74% -8.86% -0.97% 4.97% Mar/04
Tea
USD/Kgs
2.91 0.00 0.00% 0.00% -6.13% 1.39% Mar/04
Corn
USd/BU
549.5000 3.25 0.59% -1.08% -2.53% 13.53% Mar/05

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
19.33 0.07 0.36% -0.21% -2.37% 6.56% Mar/04
Feeder Cattle
USd/Lbs
135.1000 1.90 -1.39% -3.79% -2.30% -2.77% Mar/04
Live Cattle
USd/Lbs
118.5500 0.85 -0.71% -2.57% 1.56% 3.06% Mar/04
Lean Hogs
USd/Lbs
87.3000 0.63 -0.71% -2.73% 23.00% 24.23% Mar/04
Poultry
BRL/Kgs
6.40 0.00 0.00% 5.61% 1.75% 6.49% Mar/04

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.0540 0.11 2.84% -1.06% 9.98% 15.24% Mar/05
Lithium
CNY/T
70,500.00 0.00 0.00% 0.00% 7.63% 51.61% Mar/05
Bitumen
CNY/T
2,964.00 6.00 -0.20% -9.52% 4.88% 24.43% Mar/04
Steel
CNY/T
4,813.00 36.00 -0.74% 4.13% 15.23% 14.05% Mar/04
Coal
USD/T
81.70 2.70 -3.20% 2.64% 0.25% 0.59% Mar/04
Palladium
USD/t.oz
2,341.63 2.13 0.09% 1.06% 0.45% -4.33% Mar/05
Cobalt
USD/T
52,610.00 0.00 0.00% 1.56% 15.12% 63.44% Mar/04
Lead
USD/T
1,997.00 35.25 -1.73% -6.90% -2.04% 1.08% Mar/04
Aluminum
USD/T
2,152.00 18.50 0.87% -2.99% 6.64% 8.65% Mar/05
Tin
USD/T
23,770.00 495.00 2.13% -10.55% 2.74% 17.01% Mar/05
Zinc
USD/T
2,740.25 0.50 0.02% -4.36% 2.14% -0.39% Mar/05
Nickel
USD/T
16,088.50 1,280.50 -7.37% -16.02% -10.55% -2.81% Mar/04
Molybdenum
USD/Kg
29.25 0.00 0.00% 10.38% 10.38% 24.47% Mar/04
Iron Ore
USD/T
178.00 3.00 1.71% 2.89% 14.47% 12.30% Mar/04
Soda Ash
CNY/T
1,616.00 0.00 0.00% 5.21% 18.82% 20.60% Mar/04
Neodymium
CNY/T
885,000.00 0.00 0.00% 13.10% 24.65% 42.17% Mar/04
Iron Ore 62% fe
USD/T
174.9400 0.82 0.47% 6.01% 13.67% 12.26% Mar/04
Rhodium
USD/t oz.
29,200.00 850.00 3.00% 15.42% 33.95% 71.76% Mar/04
Manganese
CNY/T
31.25 0.00 0.00% 0.00% 0.00% 0.00% Mar/04

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
202.70 0.83 0.41% -1.97% 5.16% 13.69% Mar/04
LME Index
Index Points
3,772.60 94.10 -2.43% -6.31% 7.66% 10.49% Mar/04
S&P GSCI
Index Points
2,315.25 32.42 1.42% -1.50% 6.75% 17.11% Mar/04