Copper prices averaged USD 10,740 per metric ton in October, up 7.5% from September. On 31 October, the commodity traded at USD 10,873 per metric ton, up 6.3% from 30 September.
Copper traded close to record highs in October. Demand was buoyed by expectations of Federal Reserve rate cuts and a U.S.-China trade truce, along with structural factors such as booming AI and clean energy demand. Meanwhile, supply was weighed on by the temporary shutdown of Indonesia’s Grasberg mine—the world’s second-largest.
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 | - | - | - | 8,176 | 8,447 | 9,748 | 9,210 | 9,180 | 9,336 | 9,508 | 9,814 | - |