Copper Price OutlookCopper prices increased in recent weeks, driven by lower supply out of China and a weaker U.S. dollar. On 11 September, the red metal closed the day at USD 6,770 per metric ton, which was up 6.1% from the same day last month. Moreover, the price was 10.1% higher on a year-to-date basis and was up 18.0% from the same day in 2019. Prices rose over the past month as recent data showed Chinese refined copper output fell over 5% in July compared to June. Additionally, weaker supply in China signaled the sleeping giant would be back to buying copper internationally, which further supported prices. Moreover, increased copper imports from China will likely be matched by increased purchases from Europe and the U.S. as the economic panorama continues to improve. Price gains were also the result of a weak U.S. dollar in recent weeks and tighter global supply, as satellite data revealed global copper smelting dropped to a two-year low in July.
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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