Copper Price OutlookCopper prices were volatile in recent weeks, as several factors shook both supply and demand prospects. On 7 October, the red metal closed the day at USD 9,290 per metric ton, which was down 0.4% from the same day last month. However, the price was 19.9% higher on a year-to-date basis and was up 39.4% from the same day in 2020. In mid-September, copper prices benefited from a weaker dollar, amid easing concerns of a quicker-than-anticipated tapering by the U.S. Fed following the release of August inflation data. Additionally, falling stockpiles in top-consumer China, which boosted demand for refined copper, as well as capped smelting due to the country’s electricity restrictions, buoyed prices. However, gains were short-lived: On the supply side, Peru’s government reached an agreement with MMG Ltd’s Las Bambas mine and the local community to ensure the continuation of its mining operations. On the demand side, at its 22 September meeting, the U.S. Fed reignited worries of a faster-than-expected tapering, while turbulence in China’s property market escalated, raising concerns of a negative spillover onto China’s construction sector and weighing on copper prices in turn.
Copper Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Copper Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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