Copper futures eased below $3.6 per pound from a 2-week high, on expectations the Federal Reserve will keep tightening aggressively to curb sky-high inflation hurting economic growth and demand for metals. The US inflation rate continued to pull back from a 40-year peak in August, but less than expected; and the core inflation rate, which strips out food and energy prices, unexpectedly reaccelerated from July. The red metal has been rising amidst signs of physical tightness, hopes for more policy support in top metals consumer China and various supply-side risks. Workers at BHP’s Escondida in Chile, the world’s largest copper miner, are currently negotiating with local regulators after threatening an all-out strike last week due to safety concerns.

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

Copper is expected to trade at 3.50 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 3.28 in 12 months time.

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Copper



Price Day Month Year
Gold 1,675.06 11.32 0.68% -4.88% -4.51%
Silver 19.55 0.390 2.04% -1.46% -12.69%
Copper 3.56 0.0375 1.06% -0.93% -16.12%
Steel 3,897.00 -23.00 -0.59% -4.79% -31.74%
Iron Ore 101.50 -3.00 -2.87% -3.79% -2.87%
Lithium 497,500.00 0 0% 3.54% 225.16%
Platinum 906.96 2.46 0.27% -1.79% -3.62%


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.
Actual Previous Highest Lowest Dates Unit Frequency
3.56 3.52 5.02 0.60 1988 - 2022 USd/LB Daily