Copper Price OutlookCopper prices gained some ground over the past month on a pick-up in economic activity in top consumer China. On 15 May, the red metal closed the day at USD 5,156 per metric ton, which was 1.5% higher than on the same day last month. However, the price was down 16.1% on a year-to-date basis and was 14.8% lower than on the same day in 2019. Prices for the red metal rose on expectations of stronger Chinese demand for base metals as manufacturing output gets back on track after the Covid-19-driven downturn in Q1. Industrial production rebounded annually in April, which, coupled with indication of monetary stimulus from China’s Central Bank, stoked investor sentiment. The rally lost steam at the beginning of May, however, as President Donald Trump threatened to escalate the U.S.–China trade war. Moreover, fears of a second wave of infections in China amid rising new cases further soured expectations of a swift recovery in copper demand, in turn limiting price gains. Meanwhile, although lockdown conditions pushed miners to cut down supply this year, a glut in the market may be inevitable as the fall in demand proves more severe.
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
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.