Copper futures approached the $3.7 per pound mark, rebounding from the six-month low of $3.5 touched on May 24th as mounting supply concerns and expectations of government stimulus outweighed evidence of low purchasing activity. Major market players continued to flag concerns that copper supply cannot keep up with expectations of long-term demand, as the metal is a key raw material for the transition to renewable resources. Copper inventories at the Shanghai Futures Exchange fell to under 135 thousand tonnes in May, the lowest this year, and those at the London Metal Exchange were under 60 thousand tonnes, the lowest since 2005. Also, Chile said this year's output is estimated to sink as much as 7% after the 10.6% decline in 2022. In the meantime, concerning manufacturing activity and industrial growth figures in China ramped up bets of incoming stimulus measures from the Chinese government.

Historically, Copper reached an all time high of 5.02 in March of 2022. Copper - data, forecasts, historical chart - was last updated on June of 2023.

Copper is expected to trade at 3.58 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 3.35 in 12 months time.

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Price Day Month Year
Gold 1,947.41 -30.47 -1.54% -4.49% 5.22%
Silver 23.60 -0.307 -1.28% -7.80% 7.70%
Copper 3.72 0.0160 0.43% -2.83% -16.74%
Steel 3,589.00 70.00 1.99% -0.08% -21.98%
Iron Ore 104.50 4.50 4.50% -0.48% -26.92%
Lithium 297,500.00 0 0% 67.61% -36.50%
Platinum 1,003.50 -2.73 -0.27% -4.38% -1.03%

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 Peru, Democratic Republic of the Congo, China, 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.
Actual Previous Highest Lowest Dates Unit Frequency
3.72 3.71 5.02 0.60 1988 - 2023 USd/LB Daily