Copper Price Outlook
Copper prices fell from last month, largely amid deteriorating relations between the United States and China. On 29 November, the red metal closed the day at USD 5,843 per metric ton, which was 1.1% lower than on the same day last month. Moreover, the price was down 1.8% on a year-to-date basis and was 6.5% lower than on the same day in 2018. Although copper prices gained some ground through most of November amid optimism over easing trade tensions, prices slipped at the end of the month after diplomatic support from the U.S. to Hong Kong cast doubt on the preliminary deal between the world’s two largest economies. In addition, protracted industrial weaknesses in China, the United States and Germany—voracious consumers of refined copper—continued to weigh on demand for the red metal. On the other hand, supply-side constraints continued to bubble away in the background in November: Output in Chile, the world’s top copper producer, likely eased in the month as the country struggled to quell protests, while LME warehouse levels fell to six-month lows.Copper Price History Data (USD per metric ton, aop)
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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
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Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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