Copper Price OutlookCopper prices have remained depressed in recent months. After hitting a multi-year low at the beginning of this year, prices have been fluctuating at low levels and followed a moderate downward trend in August and early September. On 9 September, the spot price was USD 4,615 per metric ton, which was 3.2% lower than on the same day in August and was down 1.9% on a year-to-date basis. The price was 14.3% lower than on the same day in 2015. The prices of the red metal have been sliding constantly in recent years and dipped to a multi-year low in January, dragged down by worldwide oversupply, sluggish global demand and, in particular, weakening demand from the world’s largest consumer, China. While copper prices have picked up slightly from January’s lows, they have remained subdued throughout this year as ongoing sluggish demand and vast stockpiles prevent a price recovery. Rising mining output is adding to the pressure on prices: in the first half of this year, production is estimated to have increased 5% annually due to stronger output in several countries, including Peru. The fact that the U.S. dollar recently regained some ground also dragged on the price of the U.S. dollar-denominated commodity.
Copper Price History Data (USD per metric ton)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Note: London Metal Exchange (LME) Copper, prices in USD per metric ton (mt). Prices are average of period (aop).
Copper Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities