Copper Prices

Copper prices averaged USD 13,552 per metric ton in June, up 0.3% from May. On 30 June, the commodity traded at USD 13,349 per metric ton, down 1.1% from 29 May.

Average copper prices rose for the third consecutive month in June, reaching new record highs. Prices were supported by expectations of new U.S. tariffs on refined copper and easing tensions in the Strait of Hormuz following the U.S.-Iran deal. However, gains were capped by a stronger U.S. dollar and robust U.S. economic data, which increased the likelihood that the Fed will pivot to tighter monetary policy for the remainder of 2026.