Copper increased 1.13 USd/LB or 28.38% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Copper - values, historical data, forecasts and news - updated on March of 2025.

This statistic depicts the average annual prices for copper from 2014 through 2026*. In 2023, the average price for copper stood at 8,490 nominal U.S. dollars per metric ton.

In November 2024, the average monthly price for copper stood at over 9,000 U.S. dollars per metric ton. This is down from a monthly high exceeding 10,000 U.S. dollars in March 2024, which was among the highest monthly values observed in the past decade.

The average annual copper price is forecast to drop by 6% y-o-y to $8,800 per ton this year. Boosting supply in the global copper ore market is to push prices down, while the global demand languishes with slowed construction activity in China.

As of June 20, 2024, copper futures contracts to be settled in July 2029 were trading on U.S. markets at around 4.5 U.S. dollars per pound. This is higher than the price of 3.92 U.S. dollars per pound for contracts to be settled in January 2024, indicating that copper traders expect the price of copper to fluctuate. Copper futures are contracts that effectively lock in a price for an amount of copper to be purchased at a time in the future, which can then be traded on markets. Futures markets therefore provide an indicator of how investors think a commodities market will develop in the future.

About This Dataset: Copper Prices and Market Trends

    This dataset provides **insights into copper prices**, including current rates, historical trends, and key factors affecting price fluctuations. Copper is essential in **construction**, **electronics**, and **transportation** industries. Investors, traders, and analysts use accurate copper price data to guide decisions related to **trading**, **futures**, and **commodity investments**.

    ### **Key Features of the Dataset**

    #### **Live Market Data and Updates**
    Stay updated with the latest **copper price per pound** in USD. This data is sourced from exchanges like the **London Metal Exchange (LME)** and **COMEX**. Price fluctuations result from **global supply-demand shifts**, currency changes, and geopolitical factors.

    #### **Interactive Copper Price Charts**
    Explore **dynamic charts** showcasing real-time and historical price movements. These compare copper with **gold**, **silver**, and **aluminium**, offering insights into **market trends** and inter-metal correlations.

    ### **Factors Driving Copper Prices**

    #### **1. Supply and Demand Dynamics**
    Global copper supply is driven by mining activities in regions like **Peru**, **China**, and the **United States**. Disruptions in production or policy changes can cause **supply shocks**. On the demand side, **industrial growth** in countries like **India** and **China** sustains demand for copper.

    #### **2. Economic and Industry Trends**
    Copper prices often reflect **economic trends**. The push for **renewable energy** and **electric vehicles** has boosted long-term demand. Conversely, economic downturns and **inflation** can reduce demand, lowering prices.

    #### **3. Impact of Currency and Trade Policies**
    As a globally traded commodity, copper prices are influenced by **currency fluctuations** and **tariff policies**. A strong **US dollar** typically suppresses copper prices by increasing costs for international buyers. Trade tensions can also disrupt **commodity markets**.

    ### **Applications and Benefits**

    This dataset supports **commodity investors**, **traders**, and **industry professionals**:

    - **Investors** forecast price trends and manage **investment risks**. 
    - **Analysts** perform **market research** using price data to assess **copper futures**. 
    - **Manufacturers** optimize supply chains and **cost forecasts**.

    Explore more about copper investments on **Money Metals**:

    - [**Buy Copper Products**](https://www.moneymetals.com/buy/copper) 
    - [**95% Copper Pennies (Pre-1983)**](https://www.moneymetals.com/pre-1983-95-percent-copper-pennies/4) 
    - [**Copper Buffalo Rounds**](https://www.moneymetals.com/copper-buffalo-round-1-avdp-oz-999-pure-copper/297)

    ### **Copper Price Comparisons with Other Metals**

    Copper prices often correlate with those of **industrial** and **precious metals**:

    - **Gold** and **silver** are sensitive to **inflation** and currency shifts. 
    - **Iron ore** and **aluminium** reflect changes in **global demand** within construction and manufacturing sectors.

    These correlations help traders develop **hedging strategies** and **investment models**.

    ### **Data Variables and Availability**

    Key metrics include:

    - **Copper Price Per Pound:** The current market price in USD. 
    - **Copper Futures Price:** Data from **COMEX** futures contracts. 
    - **Historical Price Trends:** Long-term movements, updated regularly. 

    Data is available in **CSV** and **JSON** formats, enabling integration with analytical tools and platforms.

    ### **Conclusion**

    Copper price data is crucial for **monitoring global commodity markets**. From **mining** to **investment strategies**, copper impacts industries worldwide. Reliable data supports **risk management**, **planning**, and **economic forecasting**.

    For more tools and data, visit the **Money Metals** [Copper Prices Page](https://www.moneymetals.com/copper-prices).

In 2021, the average annual market price of copper peaked at 9,322 U.S. dollars per metric ton, before slightly decreasing in 2022 and 2023, when its average price was 8,478 U.S. dollars. Copper consumption Copper is a base metal that has a wide variety of uses, which makes it an important commodity. Equipment production generally accounts on average for one third of copper consumption, making it the largest global end use of copper. The country with the highest demand for copper as of 2022 was China, with a demand amounting to nearly nine million metric tons of copper. Following China was Europe, with a total demand of just over two million metric tons. Copper market prices The London Metal Exchange and Comex both provide market prices for copper. In 2023, the copper price for the London Metal Exchange was about 390 U.S. cents per pound. The average Comex price in 2022 was estimated to be about 400 U.S. cents per pound.

In 2017, approx. X tons of articles of copper were imported into Ireland; going down by -X% against the previous year. In general, articles of copper imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2015, an increase of X% y-o-y. Ireland imports peaked of X tons in 2007; however, from 2008 to 2017, it failed to regain its strength.In value terms, articles of copper imports stood at $X in 2017.

Copper Concentrate Market size was valued at USD 19.3 Billion in 2023 and is projected to reach USD 35.6 Billion by 2031, growing at a CAGR of 8.2% during the forecast period 2024-2031.

Global Copper Concentrate Market Drivers

The market drivers for the Copper Concentrate Market can be influenced by various factors. These may include:

Demand from Electric Vehicles and Renewable Energy: The increasing demand for electric vehicles (EVs) and renewable energy technologies significantly drives the copper concentrate market. As global efforts to combat climate change intensify, industries are shifting toward sustainable options, and copper’s excellent conductivity makes it an essential component in EVs and solar panels. The International Energy Agency projects substantial growth in EV production, requiring vast amounts of copper for batteries and wiring. Additionally, renewable energy infrastructures like wind and solar power are also copper-intensive. This surge in demand is expected to create supply challenges, thereby impacting copper concentrate prices and market dynamics.

Infrastructure Development: Infrastructure development is a key driver of the copper concentrate market. Governments around the world have initiated large-scale infrastructure projects to bolster economic growth and employment, particularly in emerging markets. These projects, including roads, bridges, and public transportation systems, often require significant amounts of copper for electrical systems and construction materials. For instance, updated infrastructure policies in countries like the United States and China promise to increase demand for copper. Consequently, as these projects progress, the demand for copper concentrate is expected to rise, exerting upward pressure on prices and encouraging investment in mining operations.

Global Copper Concentrate Market Restraints

Several factors can act as restraints or challenges for the Copper Concentrate Market. These may include:

Environmental Regulations: The copper concentrate market faces significant constraints due to stringent environmental regulations aimed at minimizing the impact of mining and processing activities. Governments worldwide have implemented laws to reduce emissions and promote sustainable practices, leading to increased operational costs for mining companies. Processing copper concentrate generates waste and requires proper treatment due to potential pollutants such as heavy metals. Compliance with these regulations can limit production capabilities, increase capital expenditures for environmental management, and slow down project approvals. Companies must invest in cleaner technologies, which can divert funds from exploration and development, thereby restricting market growth.

Fluctuating Copper Prices: Fluctuations in global copper prices significantly restrain the copper concentrate market. Prices are influenced by geopolitical factors, supply-demand dynamics, and economic conditions, creating uncertainties for miners and traders. When prices decline, mining companies often scale back production or delay new investments, leading to reduced availability of concentrate in the market. Such volatility can deter new entrants, spooking investors during periods of low prices. Furthermore, inconsistent pricing affects long-term contracts and can create cash flow issues, complicating financial planning for businesses that rely on steady market conditions for sustainable operations.

In the fourth quarter of 2024, copper wire prices in North America exhibited a marginal decline of 0.1% quarter-over-quarter, reflecting a stable yet slightly softened market. Supply chains remained resilient, supported by efficient logistics, robust domestic production, and advancements in recycling infrastructure. Manufacturers leveraged improved technologies to optimize production and maintain consistent supply, ensuring minimal disruptions despite global challenges such as low smelter treatment charges.

Learn about the projected growth of the copper market in China, driven by increasing demand for refined copper. Market performance is expected to slow down, with a slight increase in consumption over the next decade.

The annual producer price index of copper scrap in the United States averaged 606.1 in 2023, with 1982 used as the base year (1982 = 100). This represented a slight decrease in comparison to the previous year, down from a price index of 613.6. Despite the decline, figures remain above pre-pandemic levels, with a growth of roughly 50 percent in comparison to 2019.

Iron and steel scrap prices in the United State stood at around 325 U.S. dollars per metric ton in 2024. The majority of domestic steel industry scrap consumption is from manufacturers of raw steel, and steel castings. These raw materials are used to produce steel products that are used for appliances, construction, machinery, and transportation, among various other industry uses. Only small amounts of steel scrap were used for the production of ferroalloys, copper precipitation, and the chemical industry. Recycling scrap Recycled iron and steel scrap materials have been essential for the production of new steel and cast iron products. Vehicles are one of the largest sources of old steel scrap used for recycling and nearly 100 percent of cars are recycled for their scrap material. It is expected that the recycling rate for scrap materials from appliances and construction purposes should rise, especially as public interest for recycling grows and profitability increases.

In 2017, approx. X tons of articles of copper were imported into Canada; coming down by -X% against the previous year. In general, articles of copper imports continue to indicate a precipitous drop. The pace of growth appeared the most rapid in 2014, when the imports increased by X% y-o-y. Canada imports peaked of X tons in 2016, falling back in the following year.In value terms, articles of copper imports totaled $X in 2017. In general, articles of copper imports continue to indicate a deep shrinkage.

Learn about the growing demand for copper bars, wire, and plates in China and how it is projected to drive market consumption upward over the next decade. Market performance is expected to slow down with a CAGR of +0.1% from 2024 to 2035, reaching a volume of 8.9M tons and a value of $104B by the end of 2035.

Aluminum increased 16.20 USD/Tonne or 0.63% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Aluminum - values, historical data, forecasts and news - updated on March of 2025.

The copper price on the London Metal Exchange (LME) stood at an average of 420 U.S. cents per pound in 2024. This figure represents an increase of about nine percent in comparison to the previous year and the highest figure during the period under consideration.

In 2017, approx. X tons of articles of copper were imported into Poland; coming down by -X% against the previous year. Overall, articles of copper imports continue to indicate a modest growth. The most prominent rate of growth was recorded in 2013, an increase of X% against the previous year. In that year, the articles of copper imports attained its maximum volume of X tons.

In 2017, approx. X tons of articles of copper were imported into Romania; going down by -X% against the previous year. In general, articles of copper imports continue to indicate an abrupt drop. The pace of growth appeared the most rapid in 2016, when the imports increased by X% y-o-y. In that year, the articles of copper imports attained its maximum volume of X tons, falling back in the following year.In value terms, articles of copper imports stood at $X in 2017.

According to Cognitive Market Research, the global Copper and Silver Components in Electric Vehicle market size will be USD 2845.5 million in 2025. It will expand at a compound annual growth rate (CAGR) of 16.0% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1138.20 million in 2025 and will grow at a compound annual growth rate (CAGR) of 14.2% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 853.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 654.47 million in 2025 and will grow at a compound annual growth rate (CAGR) of 18.0% from 2025 to 2033.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 142.28 million in 2025 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2025 to 2033.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 56.91 million in 2025 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2025 to 2033.
The Passenger Cars category is the fastest growing segment of the Copper and Silver Components in the Electric Vehicle industry

Market Dynamics of Copper and Silver Components in Electric Vehicle Market

Key Drivers for Copper and Silver Components in Electric Vehicle Market

The Shift to Electric Mobility to Boost Market Growth

Many nations are putting sustainability programs and laws into effect with the goal of lowering greenhouse gas emissions and encouraging clean mobility. Governments are encouraging the use of EVs by enforcing stricter pollution regulations and providing subsidies. This is driving the growth of the market. The demand for copper and silver components in electric vehicles is increasing as a result of the shift to electric mobility, which is being fueled by government incentives and environmental concerns. Copper's conductivity, toughness, and malleability make it an essential part of electric cars. Around the world, governments are enacting enticing policies and initiatives to encourage the usage of electric buses. To increase the use of electric buses in their cities, governments in a number of affluent nations are launching tenders. For instance, According to data from the Federation of Automobile Dealers Associations (FADA), the country's adoption of EVs increased significantly between FY20 and FY22, with EV sales increasing 155% year over year to 4,29,217 units in FY22. (Source: https://inc42.com/features/does-indias-current-ev-infrastructure-support-the-rising-ev-adoption-trend/)

Increased Attention on Improving Power Transmission to Drive Market Growth

EV wiring and busbars, which are in charge of distributing electrical current throughout the car, make heavy use of copper. Its high conductivity maximizes power transmission efficiency by ensuring low resistance and energy losses. In charging infrastructure, such as EV charging cables and connectors, copper is essential. Because of its conductivity, power is transferred from the charging station to the car efficiently, cutting down on charging times and maximizing energy use. Therefore, the copper and silver components in electric car market data are being augmented by a greater emphasis on improving power transmission. Of all the metals, silver has the highest electrical conductivity—it even exceeds copper. Because of this, it is occasionally utilized in key connectors and contacts where increasing conductivity is essential. High-performance electrical switches are part of this.

Restraint Factor for the Copper and Silver Components in Electric Vehicle Market

Price Volatility Will Limit Market Growth

Silver and copper are vital elements in the expanding EV market. However, supply chain difficulties and pricing fluctuation provide certain hazards. For EV makers, fluctuating prices of these metals might raise production costs and uncertainty. Global economic expansion, supply and demand patterns, and geopolitical variables all affect copper prices. Market volatility also affects silver prices, which are impacted by things like currency fluctuations, industrial demand, and investment demand. The main currency used in commodity trade is the US dollar. For customers using foreign currencies, copper and silver may become m...