Copper Prices Per KG Pound + Historic Data

Interestingly, some take another view on the historical performance of the copper price. Marko has been working on the road for over metatrader 4 white label trading platform 5 years, and is currently based in Europe. Alongside writing and editing, Marko works on projects related to online technology and digital marketing.

Substitution: Alternative Metals To Copper

Copper’s widespread usage began during the Copper Age, from 3500 to 2300 BCE. The metal was initially used exclusively in australian dollar vs canadian dollar its pure state but was later used in the production of other metal alloys. Although it has similar properties to gold and silver, copper is significantly cheaper. The global copper supply is fueled by mining and recycling of copper products. When mined, copper is extracted from crushed ore and is furthered refined through smelting.

Investing in Copper

China is still a strong copper demand driver, with the most recent data showing that it was the largest consumer of refined copper at an estimated 6.75 million metric tons in 2023. While Ioannou said supply and demand dynamics are the main driver for prices, grade and production costs are factors as well. Demand for copper keeps growing, and he suggested that since “the low-hanging fruit has been mined,” miners must increasingly go after more difficult, large, low-grade and costly deposits. According to Stefan Ioannou of Cormark Securities, it’s most pragmatic to look at historical copper prices since the 1970s or 1980s.

1. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
2. Demand for copper keeps growing, and he suggested that since “the low-hanging fruit has been mined,” miners must increasingly go after more difficult, large, low-grade and costly deposits.
3. Interestingly, by looking backwards it’s easy to see that this spike was an expected feature of the long-term picture for copper prices.
4. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

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Melissa Pistilli has been reporting on the markets and educating investors since 2006. She has covered a wide variety of industries in the investment space including mining, cannabis, tech and pharmaceuticals. She helps to educate investors about opportunities in a variety of growth markets. Melissa holds a bachelor’s degree in English education as well as a master’s degree in the teaching of writing, both from Humboldt State University, California.

The most common weight units to measure copper are pounds (lb), standard ounces (oz), troy ounces (t oz), and grams (g). For copper commodity market prices for trading — you’ll find copper listed in pounds (lb). On that scale, historical copper prices have dropped significantly since the 1910s. The building construction industry is responsible for close to half of the US copper supply.

You can see historical copper prices, real-time price and the metal’s year-to-date performance at the top of the page. Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether euro beats u s. dollar as most used currency globally you can afford to lose more than your original investment. Many supply and demand factors have contributed to the movement of historical copper prices over the years. For example, a report from the US Geological Survey notes that the Vietnam War meant strong demand in the mid-1960s and early 1970s, leading to price controls to limit domestic copper prices.

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You can also learn about the national economies of countries like China and India, both of which are key players in the copper market. Cheaper metals such as aluminum are now a substitute for copper in power cables, electrical equipment, and refrigeration equipment. Events like miner strikes can also produce supply disruptions and higher prices. Get The Week Ahead, our free rundown of the coming week’s market-moving events and forex pairs to watch, delivered to your inbox every Sunday.

That sounds like good news for increasing copper supply, but as Ioannou noted, large-scale deposits are often low grade, meaning that they’re more costly to mine despite relatively cheap heap-leaching methods. The economic principle of substitution represents a risk of investing in any commodity, and copper is no exception. As prices climb, buyers will seek cheaper substitutions, if available.

One troy ounce is rounded to 31.1 grams — this unit is typically used on exchanges and by bullion dealers. Some ETPs carry additional risks depending on how they’re structured, investors should ensure they familiarise themselves with the differences before investing. It’s mainly used in electrical wiring, roofing, plumbing, and cooking utensils.

Speculators should pay close attention to trends in this market for clues about future copper prices. Because infrastructure represents such an important part of the demand, emerging markets are a key driver of copper prices. Fast-growing countries like India and China are accumulating vast amounts of wealth as their economies grow.

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Finally, natural disasters like earthquakes and landslides can slow down mining output. Copper traders should pay attention to geopolitical news that affects the mining industry. Historically, countries in this region have occasionally chosen governments that nationalized the mining industry. The percentage of IG client accounts with positions in this market that are currently long or short. Much later, in July 1998, prices “had fallen to their lowest level since the Great Depression,” while an earlier production boom in the 1980s led prices to fall on the back of resulting oversupply.

Interestingly, by looking backwards it’s easy to see that this spike was an expected feature of the long-term picture for copper prices. The red metal has rebounded after a downtrend from about 2011 to 2015, and over the last few decades prices have increased even more dramatically. In the short term, copper price volatility is still in the cards due to market uncertainties, including prolonged supply chain challenges, sticky inflation and the threat of recession in the global economy. Copper bullion might be harder to purchase than the likes of gold, silver, platinum, or palladium since it’s not classified as a ‘precious metal’. Political, environmental, and labor issues can have a big impact on copper prices. South America supplies a significant amount of copper, particularly Chile and Peru.

Case in point — at the time of its new high in May 2024, the copper price has increased over 500 percent since January 2000. Although this impressive major increase doesn’t account for inflation, it’s still a sizeable gain. Different exchanges and brokers list different live copper prices because of several reasons. In the case of exchanges, the market maker and data provider may be different. For example, the Copper Futures price on Comex is different from what you see on the London Metal Exchange (LME). The price of copper may depend greatly on the ability of these countries, as well as other emerging economies like Brazil.