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Copper Prices

Copper prices averaged USD 8,693 per metric ton in March, up 4.7% from February. On 29 March, the commodity traded at USD 8,767 per metric ton, up 4.3% from 29 February.

A rebound in China’s manufacturing PMI in March likely buoyed demand. On the production side, a tight supply of copper concentrate and the expansion of China’s smelting capacity have driven treatment charges in the country to their lowest level in over a decade in recent months. Against this backdrop, Chinese refined copper output slid month-on-month in February, and there is growing expectation of a further downturn in supply: In mid-March, several Chinese smelters pledged to cut output.

This chart displays Copper (US$/mt) from 2022 to 2024.

Copper LME (prices in US$/mt, aop)

Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Copper LME - - - - - 9,536 7,767 8,030

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Price forecasts and historical data for Copper.

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