COMMODITY · USD/lb
Copper
An industrial metal used in wiring, construction and electric vehicles. It is called "Dr. Copper" for reflecting the economy well.
Price$6.54-$0.07 · -1.02%vs previous day
Price
US dollar futures| Price | $6.54 (USD/lb) |
|---|---|
| vs previous day | -1.02% |
| 52-week high | $6.83 |
| 52-week low | $4.50 |
| 52-week position | 88% (0% = 52-week low, 100% = 52-week high) |
Copper: what it is
Copper is a leading industrial metal used across industry, from wiring and plumbing to construction, home appliances and electric vehicles. Its demand is closely tied to the real economy, which earned it the nickname "Dr. Copper", a metal with a PhD in economics, for reflecting the direction of the economy well.
It has also drawn active discussion of long-term supply and demand recently, as electrification (electric vehicles, renewable power and grid investment) has brought its usage into focus.
What has moved the price
- The world economy and China
China has accounted for around half of copper consumption, so copper prices have reacted sensitively to Chinese construction and manufacturing indicators.
- Electrification demand
An electric vehicle uses far more copper than a combustion engine car, and renewable power and power grids also use large amounts. These structural changes are at the center of the demand discussion.
- Supply disruptions
Supply issues at major mines in Chile, Peru and elsewhere, such as strikes, falling ore grades and power shortages, have repeatedly moved prices.
This describes general tendencies observed in the past and does not forecast the direction of future prices.
Reading the unit
The copper price on this page is based on US COMEX futures, in dollars per pound (lb, about 454 g). On the London Metal Exchange (LME) it is quoted in dollars per tonne, a different scale, so check the unit when comparing.
Points to keep in mind
- "Dr. Copper" is only a nickname for a past tendency. It does not mean copper prices always forecast the economy accurately.
- COMEX (pounds) and LME (tonnes) use different units, so the price numbers should not be compared directly.
This page is information based on public data and is not advice on any commodity or related financial product. The figures summarize current and past facts and do not forecast future prices.