Copper rose to 4.45 USD/Lbs on August 22, 2025, up 0.23% from the previous day. Over the past month, Copper's price has fallen 23.43%, but it is still 5.96% higher than a year ago, 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 August of 2025.

The copper market in the USA and Canada is forecasted to grow from USD 23.09 billion in 2025 to USD 37.88 billion by 2035, advancing at a CAGR of 5.1% over the assessment period.

The report covers Copper Usage by Industry and is segmented by End-user Industry (Automotive and Heavy Equipment, Construction, Electrical and Electronics, Industrial, and Other End-user Industries) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast for the copper market in volume (kilo tons) for all the above segments.

Snapshot img

Copper Market Size 2024-2028

The copper market size is forecast to increase by USD 70 billion, at a CAGR of 6.78% between 2023 and 2028. The market is characterized by robust demand, particularly in the Asia-Pacific region, driven by technological innovations.

Major Market Trends & Insights

APAC dominated the market and accounted for a 73% share in 2022. The market is expected to grow significantly in North America region as well over the forecast period. Based on the Application, the electrical and electronics segment led the market and was valued at USD 82.20 billion of the global revenue in 2022. Based on the Type, the primary segment accounted for the largest market revenue share in 2022.

Market Size & Forecast

Market Opportunities: USD 191.60 Billion Future Opportunities: USD 70 Billion CAGR (2023-2028): 6.78% APAC: Largest market in 2022

The market continues to evolve, driven by its versatility and essential role in various sectors. Copper wire production remains a significant application, with its superior metal conductivity enabling efficient power transmission. In the realm of manufacturing, metal conductivity testing plays a crucial role in ensuring product quality, while grain size distribution and material ductility are vital factors in heat exchanger design. Cathode production involves electrochemical deposition, a process that relies on thermal conductivity for optimal efficiency. Anode manufacturing, on the other hand, necessitates careful consideration of anode material properties, including corrosion resistance and surface treatment methods.

What will be the Size of the Copper Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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Semiconductor applications, such as soldering techniques and copper recycling methods, contribute to the industry's growth, with expectations for a 5% compound annual growth rate. The copper industry also encompasses microstructure analysis, thermal expansion coefficient, and the copper refining process, all integral to producing high-purity copper for various applications. Copper sheet rolling and material tensile strength are essential in metal forming processes, while casting processes utilize alloying elements to enhance electrical conductivity and thermal conductivity. Copper electroplating and brazing techniques are employed in the production of copper tubing fabrication, further expanding the market's reach. Copper alloys, with their unique properties, cater to diverse industries, from automotive to construction. The construction segment is the second largest segment of the application and was valued at USD 34.20 billion in 2022.

Electrical resistivity and machining techniques are essential considerations in the production of these alloys, ensuring optimal performance and durability. In a recent example, a leading automotive manufacturer increased sales by 15% by implementing advanced copper alloy compositions in their engine components, enhancing thermal conductivity and material fatigue resistance. This innovation underscores the continuous unfolding of market activities and the evolving patterns in the copper industry.

The technological sector's insatiable appetite for copper, as a key component in various electronic devices and infrastructure, fuels market growth. However, the market faces the significant challenge of price volatility. Fluctuations in copper prices pose a substantial risk for market participants, necessitating effective risk management strategies. Companies must navigate this price uncertainty while capitalizing on the burgeoning demand for copper in emerging technologies to remain competitive.

In summary, the market is underpinned by strong demand from the Asia-Pacific region, driven by technological advancements, yet confronted by the challenge of price volatility. Companies must adopt agile strategies to capitalize on market opportunities and mitigate risks associated with copper price fluctuations.

How is this Copper Industry segmented?

The copper industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

Electrical and electronics Construction Telecommunication Transportation Others

Type

Primary Secondary Oxygen-Free Electrolytic

Product Form

Wire Rods Tubes Sheets and Strips Plates Bars and Sections

Geography

North America

US Canada

Europe

France Germany Italy UK

Middle East and Africa

Egypt KSA Oman UAE

APAC

China India Japan

South America

Argentina Brazil

Rest of World (ROW)

By Application Insights

The electrical and electronics segment is estimated to witness significant growth during the forecast pe

The North America copper market attained a volume of nearly 2092.04 KMT in 2024. The market is projected to grow at a CAGR of 2.40% between 2025 and 2034 to reach a value of around 2651.98 KMT by 2034.

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).

As of June 20, 2024, copper futures contracts to be settled in July 2029 were trading on U.S. markets at around *** U.S. dollars per pound. This is higher than the price of **** 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.

In 2021, the average annual market price of copper peaked at ***** U.S. dollars per metric ton, before slightly decreasing in 2022 and 2023, when its average price was ***** 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 ************ metric tons of copper. Following China was Europe, with a total demand of just over *********** 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 *** U.S. cents per pound. The average Comex price in 2022 was estimated to be about *** U.S. cents per pound.

Learn about the expected growth of the refined copper market in the United States over the next decade, with projections of increased consumption and market value. Market performance is forecasted to accelerate, expanding with an anticipated CAGR of +1.6% for the period from 2024 to 2035, bringing the market volume to 2.3M tons and value to $17.3B by the end of 2035.

Graph and download economic data for Global price of Copper (PCOPPUSDQ) from Q1 1990 to Q2 2025 about copper, metals, World, and price.

The copper rolling, drawing and extruding industry has been undergoing significant technological and operational advancements to secure long-term competitiveness. Producers are integrating advanced manufacturing technologies such as automation, robotics and real-time data analytics into their operations. There is also a focus on enhancing recycling capabilities to reduce dependence on volatile global supply chains. This push toward technological advancement comes as a response to the industry's tight supply, rising input costs and growing customer expectations. Companies are adopting predictive maintenance and expanding their recycling infrastructure, as well as building strategic partnerships to strengthen their competitive position. Through the five years to 2025, revenue has gained at a CAGR of 6.1% to $37.3 billion in 2025, despite a 2.3% drop anticipated in 2025. The industry faces immediate and multifaceted challenges because of the global convergence of persistent supply constraints and robust demand, which have led to climbing copper prices. This volatility complicates inventory management, contract negotiations and squeezes profit. This ripple effect raises costs for industries reliant on copper products and tariffs and global trade frictions dampen demand for fabricated copper goods. This has led companies to focus on strengthening domestic supply chains and customer relationships and preparing for a more insular market environment. Expectations for the future performance of the copper rolling, drawing and extruding industry are mixed because of persistent price volatility, supply constraints, surging demand and geopolitical tensions. This uncertainty complicates operational planning and margin management; however, producers are still expected to leverage new design technologies to create efficient, durable copper products tailored to evolving end-user needs. There's an expected investment in R&D, advanced manufacturing technologies and collaborative product development to maintain competitiveness. The industry must continue strengthening domestic supply chains, investing in production modernization and expanding recycling capabilities to offset potential shortages and cost pressures from the complex global landscape. Resilience and agility will be key to maintaining competitiveness in the face of these challenges. Following these trends, revenue will climb at a CAGR of 0.6% to $38.3 billion through the end of 2030.

Snapshot img

Copper Products Market Size 2025-2029

The copper products market size is forecast to increase by USD 86.4 billion, at a CAGR of 6.7% between 2024 and 2029.

The market is experiencing significant growth, driven by key trends such as the increasing emphasis on copper product recycling and advancements in copper alloys. These factors contribute to the market's expansion, despite fluctuations in copper prices. The use of copper alloys in various industries, including construction, automotive, and electrical, continues to increase due to their superior properties, such as conductivity, durability, and resistance to corrosion. Renewable energy technologies, including wind turbines and solar panels, also heavily rely on copper. Moreover, the recycling of copper products is gaining traction as a sustainable solution to reduce the environmental impact of mining and production. These trends are expected to shape the future of the market, offering opportunities for growth and innovation.

What will be the Size of the Copper Products Market During the Forecast Period?

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The market encompasses a diverse range of applications, including wires and cables for electrification in various sectors, electrical components such as dynamos, transformers, motors, electromagnets, switches, and communication cables. Copper's unique properties as an electricity and heat conductor make it an essential component in residential electrical circuits, as well as In the manufacturing of electronic devices and machinery. The market's growth is driven by increasing demand for electrification and the proliferation of electronic devices.
The circular economy and sustainability efforts have also influenced the copper industry, with recycling and the use of copper alloys like cupronickel and sterling silver gaining importance. Investors and policymakers recognize copper's role as a critical resource for the transition to a low-carbon economy, further fueling market expansion. Overall, the market is expected to continue growing, underpinned by its versatility and indispensable role in numerous industries.

How is this Copper Products Industry segmented and which is the largest segment?

The copper products industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Copper wire
  Copper pipes and tubes
  Copper foil
  Copper sheet
  Others


Application

  Building and construction
  Electrical and electronic products
  Industrial machinery
  Transportation
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  South America

    Brazil


  Middle East and Africa

By Product Insights

The copper wire segment is estimated to witness significant growth during the forecast period.

Copper wire plays a vital role in various sectors, including residential, commercial, and industrial applications. In residential buildings, it ensures the safe and efficient distribution of power for lighting systems and electrical wiring. In commercial settings, copper wire provides electrical connectivity for lighting fixtures, power outlets, HVAC systems, security systems, and communication networks. Industrial applications include powering machinery, motors, and control systems in manufacturing plants, factories, warehouses, and industrial facilities. Copper's advantages include flexibility and ease of installation. It is also a superior conductor of electricity and heat, making it essential in power generation, transmission, and renewable energy sectors, such as wind turbines and solar panels.

Copper's recyclability aligns with sustainability efforts and circular economy initiatives. Copper's applications extend to electrical devices, wires and cables, dynamos, transformers, motors, electromagnets, switches, communication cables, and housing demand projects like hotels and electric vehicles. Copper's thermal and electrical conductivity is crucial for power plants, generators, transmission lines, and infrastructure investment in transportation equipment and household appliances.

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The copper wire segment was valued at USD 129.70 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 69% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The market in Asia Pacific (APAC) is character

US copper prices fell sharply as Chinese investors adjusted positions before their holiday, influenced by economic indicators and global supply trends.

The global copper market, valued at $180.32 billion in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 6.78% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning electrical and electronics sector, with its increasing demand for sophisticated circuitry and wiring, is a major catalyst. Similarly, the construction industry's ongoing projects globally, particularly in developing economies experiencing rapid urbanization, contribute significantly to copper consumption. The telecommunications sector's continuous upgrades in infrastructure, including the expansion of 5G networks, further amplify demand. The transportation sector, particularly electric vehicle (EV) manufacturing, is also experiencing a surge in copper utilization for batteries and electric motors. While primary copper production remains dominant, secondary copper (recycled) is gaining traction due to environmental concerns and resource efficiency initiatives. Geographic distribution reveals notable regional variations. North America and Europe, historically significant markets, continue to show steady demand, driven by established infrastructure and industrial activity. However, the Asia-Pacific (APAC) region, particularly China, is poised for substantial growth due to its ongoing industrialization and infrastructural development. This makes the APAC region a key focus for copper producers and investors. While challenges like fluctuating commodity prices and potential supply chain disruptions exist, the overall market outlook remains optimistic, driven by long-term growth in key end-use sectors and increasing global demand. Competition among major players such as BHP Group Ltd., Glencore Plc, and Freeport McMoRan Inc. is intense, characterized by strategic acquisitions, technological advancements, and efforts to secure sustainable supply chains.

The U.S. Copper Mining Market size was valued at USD 474.33 USD Million in 2023 and is projected to reach USD 613.34 USD Million by 2032, exhibiting a CAGR of 3.74 % during the forecast period. Copper Mining Is the process of extracting copper ore from the crust of the earth surface for various industrial surfaces. Copper is majorly used in electrical wire, plumbing, construction materials and electronic due to its high conductivity and resistance to corrosion. Two major types of copper mining are open-pit mining and underground mining. Open-pit mining involves digging a large pit in the surface of the earth to extract the copper ore, whereas underground mining involves digging tunnels and shafts in the crust of the earth to extract the copper ore. In recent years, US market is moving towards automation and environmental sustainability in copper mining. These trends are driven by advancement in technology, and growing awareness about environmental concerns. These trends will help to increase efficiency, decrease environmental impact, and responsible utilization of the resources. Recent developments include: June 2023 – Hudbay Minerals Inc. acquired Copper Mountain Mining Corporation. Hudbay will take control of all issued shares and outstanding common shares of Copper Mountain. The transaction will produce a leading Americas-focused copper mining company., November 2022 – BHP Group Ltd. made an enhanced USD 6.4 billion offer to acquire copper producer OZ Minerals Ltd. The acquisition will build up BHP’s portfolio in nickel and copper., July 2022– PolyMet Mining Company partnered with Teck to expand Minnesota copper mines. The agreement will help to form a 50:50 joint venture to progress Teck’s Mesaba Mineral Deposit and PolyMet Mining Inc.’s NorthMet project.. Key drivers for this market are: Rising Global Shift Toward Renewable Energy Sources to Drive Market Growth. Potential restraints include: Changes in Government Policies and Regulations Regarding Mining Practices and Environmental Standards Can Hamper Market Growth. Notable trends are: Growing Technological Advancements to Aid Copper Mining Operations in the U.S..

The market size of copper amounted to nearly *** billion U.S. dollars worldwide in 2022. By 2030, the market value of this base metal is anticipated to increase by ** billion U.S. dollars. Copper is used in a variety of applications, including wiring, solar panels, pipes, electric vehicles, and many others.

The United States copper market is expected to see continued growth over the next decade driven by increasing demand for refined copper, with market volume projected to reach 2.3M tons and market value to reach $17.3B by 2035.

Graph and download economic data for Global price of Copper (PCOPPUSDM) from Jan 1990 to Jun 2025 about copper, metals, World, and price.

In June 2025, the average monthly price for copper stood at over ***** U.S. dollars per metric ton. This is down from a monthly high exceeding ****** U.S. dollars in March 2024, which was among the highest monthly values observed in the past decade.

Copper Scrap Market Outlook 2032

The global copper scrap market size was USD 59.54 billion in 2023 and is likely to reach USD 128.83 billion by 2032, expanding at a CAGR of 8.6% during 2024–2032. The market growth is attributed to the high demand for copper in various industries across the globe.



Increasing demand for copper in various industries is driving the copper scrap market. The market is witnessing a surge due to the rising need for a sustainable and efficient solution for copper supply. Copper scrap, an efficient alternative to copper mining, is a key raw material in the production of copper-based products. It plays a significant role in fulfilling the increasing demand for copper, especially in sectors such as construction, electrical and electronics, and transportation.

Impact of Artificial Intelligence (AI) in Copper Scrap Market

The use of artificial intelligence is likely to boost the copper scrap market. AI-powered robots sort and separate copper scrap from mixed waste more accurately and rapidly than human workers, thereby increasing the volume of recyclable material recovered. Additionally, AI predicts market trends and demand patterns, enabling businesses to optimize their operations and reduce waste. Machine learning algorithms, a subset of AI, analyze vast amounts of data to identify patterns and trends that humans might overlook. This capability allows businesses to forecast demand for recycled copper accurately, leading to efficient production planning and inventory management.



AI improves the quality control process in the recycling industry. AI-powered inspection systems detect and remove impurities from recycled copper more effectively than traditional methods, ensuring a high-quality end product. Therefore, the integration of AI in the recycling industry is increasing the efficiency of the recycling process and enhancing the quality of recycled copper, thereby positively impacting the market.

Copper Scrap Market Dynamics

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