Copper prices averaged USD 9,835 per metric ton in June, up 3.2% from May. On 30 June, the commodity traded at USD 10,051 per metric ton, up 5.3% from 30 May.
Prices rose in June as LME inventories hit a near two-year low. The looming threat of U.S. tariffs on copper caused massive drawdowns in warehouses around the globe, as traders sought to move as much physical metal to the U.S. as possible, with the market currently pricing in a potential 10% tariff. Against this backdrop, LME spot prices rose markedly above future prices, while hiked exports from Chinese smelters to global markets tempered price gains.
This chart displays Copper (US$/mt) from 2023 to 2025.
Copper LME (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Copper LME | - | - | 8,366 | 8,176 | 8,447 | 9,748 | 9,210 | 9,180 | 9,336 | 9,508 | - | - |