Copper futures rose above $3.6 per pound from the two-week low of $3.57 touched on November 21st, as measures to stimulate construction and industrial activity coincided with looming supply concerns. Authorities in top consumer China lifted a ban on equity refinancing for listed property developers, shortly after the country’s top banks extended $162 billion in fresh credit lines for the sector. Additionally, the PBoC cut its reserve ratio by 25bps after rapidly increasing covid cases in the country drove the government to trigger strict lockdowns and business curbs. Concerns of upcoming shortages also supported copper futures to hover nearly 15% above the 20-month low of $3.2 hit in July. Commodity trader Trafigura warned that global copper stocks have fallen to record lows, with current inventories enough to supply world consumption for just 4.9 days. Freeport-McMoran was also vocal about shortage risks, stating that low prices do not reflect the tightness of the physical market. .

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

Copper is expected to trade at 3.53 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 3.29 in 12 months time.

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Price Day Month Year
Gold 1,750.80 10.05 0.58% 7.21% -1.30%
Silver 21.30 0.383 1.83% 11.28% -6.57%
Copper 3.64 0.0276 0.76% 7.83% -14.93%
Steel 3,700.00 -27.00 -0.72% 6.81% -11.40%
Iron Ore 100.50 -1.00 -0.99% 22.56% 1.01%
Lithium 577,500.00 0 0% 2.12% 190.93%
Platinum 997.50 8.82 0.89% 7.75% 6.76%

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.64 3.61 5.02 0.60 1988 - 2022 USd/LB Daily