Copper futures ended a record-setting rally to trade lower around $4.7 per pound after a surge in US consumer prices prompted a rise in the dollar, making greenback-priced metals cheaper. Still, fundamentals have not changed given how crucial copper is in the transition to a carbon-free world, demand is due to outstrip supply due to lack of investment by large miners. Early in May, copper jumped to a record $4.9 per pound as inventories stand at levels not seen in fifteen years while speedy vaccination rollouts and trillions in dollars of economic stimulus boosted demand. Meantime, the world’s top producer Chile passed a measure that would introduce progressive taxes on copper sales starting in 2024 and with the highest bracket set at 75%, pending the approval by the senate and the government.

Historically, Copper reached an all time high of 4.90 in May of 2021. Copper - data, forecasts, historical chart - was last updated on May of 2021.

Copper is expected to trade at 4.55 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 4.19 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
66.4100 0.14 0.21% 1.73% 4.70% 36.87% May/18
Brent
USD/Bbl
69.6200 0.16 0.23% 1.56% 3.83% 34.40% May/18
Natural gas
USD/MMBtu
3.1200 0.01 0.39% 5.58% 13.50% 22.88% May/18
Gasoline
USD/Gal
2.1622 0.00 0.18% 1.04% 5.76% 53.34% May/18
Heating oil
USD/Gal
2.0603 0.00 0.00% 0.91% 8.87% 38.83% May/18
Ethanol
USD/Gal
2.3400 0.00 0.00% 0.00% 9.35% 63.29% May/17
Naphtha
USD/T
592.90 2.68 0.45% 0.08% 6.17% 37.02% May/17
Propane
USD/Gal
0.82 0.01 0.72% 2.11% -0.13% 26.41% May/17
Uranium
USD/Lbs
30.9500 0.00 0.00% 0.65% 5.09% 0.81% May/17

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,867.85 1.72 0.09% 1.68% 5.57% -1.51% May/18
Silver
USD/t.oz
28.236 0.07 0.23% 2.19% 9.40% 7.12% May/18
Platinum
USD/t.oz
1,243.25 3.75 0.30% 0.64% 3.07% 16.63% May/18

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,600.0000 12.75 0.80% -2.29% 10.36% 22.44% May/18
Wheat
USd/Bu
706.0000 6.25 0.89% -7.07% 8.24% 10.23% May/18
Lumber
USD/1000 board feet
1,327.00 233.00 -14.94% -17.11% 0.02% 51.99% May/17
Cheese
USD/Lbs
1.8040 0.00 -0.17% -0.39% 5.87% 9.60% May/17
Palm Oil
MYR/T
4,242.00 264.00 -5.86% -2.88% 14.34% 17.83% May/17
Milk
USD/CWT
18.85 0.03 -0.16% -0.05% 6.68% 19.30% May/17
Coffee
USd/Lbs
146.00 1.75 1.21% -1.58% 12.44% 13.84% May/17
Wool
AUD/100Kg
1,306.00 0.00 0.00% -0.99% 1.16% 11.53% May/17
Tea
USD/Kgs
3.02 0.00 0.00% 3.78% 11.85% 5.23% May/17
Sugar
USd/Lbs
16.97 0.01 0.06% -2.97% 4.17% 9.55% May/17
Cocoa
USD/T
2,539.00 65.00 2.63% 2.67% 4.19% -2.46% May/17
Orange Juice
USd/Lbs
118.45 2.15 1.85% 4.32% 3.95% -3.89% May/17
Cotton
USd/Lbs
82.32 0.11 -0.13% -6.95% -1.13% 5.38% May/17
Rubber
JPY/Kg
257.00 2.00 -0.77% 0.00% 16.87% -4.39% May/18
Rice
USD/cwt
13.4550 0.00 0.00% -3.06% 4.75% 9.93% May/18
Canola
CAD/T
955.50 38.70 4.22% -2.94% 14.80% 51.79% May/18
Oat
USd/Bu
362.2500 5.75 -1.56% -10.11% -4.86% 0.42% May/18
Corn
USd/BU
662.7500 10.00 1.53% -12.74% 11.95% 36.93% May/18

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
20.04 0.00 0.00% -1.18% -1.81% 10.47% May/17
Poultry
BRL/Kgs
7.22 0.00 0.00% 0.70% 13.17% 20.13% May/17
Feeder Cattle
USd/Lbs
137.9250 0.38 0.27% 1.83% 0.15% -0.74% May/17
Live Cattle
USd/Lbs
115.4000 0.15 0.13% -2.39% -4.11% 0.33% May/17
Lean Hogs
USd/Lbs
108.2750 0.45 -0.41% -3.24% 2.48% 54.07% May/17

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.7560 0.03 0.73% -0.47% 11.91% 35.15% May/18
Coal
USD/T
95.00 2.20 -2.26% 0.85% 3.15% 16.97% May/17
Steel
CNY/T
5,542.00 42.00 -0.75% -2.82% 8.31% 31.33% May/17
Iron Ore
USD/T
208.50 3.00 1.46% -8.55% 15.83% 31.55% May/17
Lithium
CNY/T
89,000.00 0.00 0.00% -1.11% -34.56% 91.40% May/18
Bitumen
CNY/T
3,254.00 290.00 9.78% 5.72% 10.38% 36.61% May/17
Cobalt
USD/T
44,095.00 0.00 0.00% -2.37% -11.37% 36.98% May/17
Lead
USD/T
2,137.80 0.00 0.00% -2.59% 5.06% 8.20% May/17
Aluminum
USD/T
2,494.75 48.50 1.98% -0.72% 7.69% 25.95% May/17
Tin
USD/T
29,972.50 460.00 1.56% 0.66% 12.54% 47.54% May/17
Zinc
USD/T
3,028.75 88.75 3.02% 1.24% 6.12% 10.10% May/17
Nickel
USD/T
17,516.00 0.00 0.00% -1.25% 8.99% 5.81% May/17
Molybdenum
USD/Kg
29.00 0.00 0.00% 7.41% 7.41% 23.40% May/17
Palladium
USD/t.oz
2,912.19 10.97 0.38% -0.85% 3.58% 18.98% May/18
Manganese
CNY/T
32.00 0.00 0.00% 1.59% 5.79% 2.40% May/17
Rhodium
USD/t oz.
28,400.00 0.00 0.00% 0.00% -3.73% 67.06% May/17
Soda Ash
CNY/T
1,760.00 0.00 0.00% -0.11% 0.46% 31.34% May/17
Neodymium
CNY/T
637,500.00 0.00 0.00% -8.27% -13.85% 2.41% May/17
Iron Ore 62% fe
USD/T
214.99 4.91 2.34% -0.23% 23.05% 37.96% May/17

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
218.86 2.82 1.30% -0.10% 6.17% 22.75% May/17
LME Index
Index Points
4,364.60 65.20 1.52% -0.31% 9.51% 27.83% May/17
S&P GSCI
Index Points
2,470.55 0.00 0.00% -1.20% 4.85% 24.97% May/17