Open pit copper mine

Copper Price Outlook

Copper prices declined over the past month, mostly due to weaker demand conditions amid a worsening global economic panorama. Prices averaged USD 9,395 per metric ton in May, which was down 7.7% from April's price and was 7.4% lower than in the same month last year. Meanwhile, on 31 May, copper traded at USD 9,446 per metric ton, which was 3.3% lower than on the same day of the previous month. Prices came under pressure in May chiefly due to worries over the constraining effects of Covid-19 lockdowns in top consumer China. Industrial activity has been hit by harsh restrictions, which, coupled with fears over a potential full-scale lockdown in Beijing, sent prices tumbling. China’s copper imports dove in April, according to recently released data, reflecting the downturn in consumption. Bleaker global GDP growth prospects—amid monetary policy tightening by major central banks and the increasing economic fallout from the war in Ukraine—added further downward pressure to prices. On the supply side, falling Chilean copper output in April, and disruptions caused by protests in the Las Bambas mine in Peru in May, should have offered some support to prices.

Copper Price History Data (USD per metric ton, aop)

2015  2016  2017  2018  2019  
Copper 5508.57  4871.3  6171.78  6527.31  6008.57  

Sample Report

Price forecasts and historical data for Energy, Metals and Agricultural Commodities.


Copper Historical Price Chart

Copper historical price chart
Note: Copper prices in USD per metric ton (mt). Daily prices.

Sample Report

Price forecasts and historical data for Energy, Metals and Agricultural Commodities


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