Copper decreased to below $4.2 per pound in September, the lowest in a month and moving further away from a record high of $4.9 in May, amid a stronger dollar and as concerns grew about the health of the Chinese real estate market after a giant property developer Evergrande is facing liquidity crises. Meanwhile, China reiterated plans to release more copper, aluminum and zinc from its state reserves and said will closely monitor market conditions, in an attempt to balance supply and demand. Also, Chile’s copper commission Cochilco forecast the global copper market to be in a supply deficit of 153,000 tonnes in 2021, while it expects a surplus of 190,000 tonnes for 2022. Cochilco also expects prices to average $4.20 a pound this year, down from $4.30 three months ago, and see it falling to $3.95 next year.

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

Copper is expected to trade at 4.15 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 3.92 in 12 months time.

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Price Day Month Year
Gold 1,762.18 -1.70 -0.10% -2.38% -7.22%
Silver 22.28 0.038 0.17% -5.82% -8.73%
Copper 4.13 0.0155 0.38% -2.41% 34.65%
Steel 5,709.00 102.00 1.82% 11.26% 55.56%
Iron Ore 104.50 0 0% -25.09% -13.28%
Lithium 153,000.00 3,000.00 2.00% 45.71% 292.31%
Platinum 917.73 7.00 0.77% -9.43% 5.89%

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.