Today’s copper market price is $4.26 per pound.
Tip: Use the “Advanced” button above to access technical analysis charting features for copper spot prices over time.
Read on to find out about how copper prices compare to precious metal prices like gold and silver. We also explain the main price drivers of copper, how you can get copper via bullion dealers, and how you can keep up with copper price news.
What Drives Copper Prices?
Copper has many uses in a diverse array of industries, including everything from coins to crude oil exporation. It’s price is considered one of the key barometers for the overall strength of the global economy. The following four areas represent some of the biggest determinants of copper prices:
Because infrastructure represents such an important part of the demand, emerging markets are a key driver of copper prices. Fast-growing countries like India and China are accumulating vast amounts of wealth as their economies grow.
As a result, they have a growing need for infrastructures to support the likes of housing and transportation.
Asia comprises an increasing share of global copper demand. The price of copper may depend greatly on the ability of these countries, as well as other emerging economies like Brazil.
A halt of growth in emerging economies would almost certainly have a negative effect on copper prices.
The US homebuilding industry uses copper in electrical wiring, roofing, plumbing fixtures, and insulation among other things.
Factors that affect US housing demand, including nonfarm payrolls, mortgage rates, US gross domestic product (GDP), and demographics, also play an important role in determining copper demand.
The building construction industry is responsible for close to half of the US copper supply. Speculators should pay close attention to trends in this market for clues about future copper prices.
Political, environmental, and labor issues can have a big impact on copper prices. South America supplies a significant amount of copper, particularly Chile and Peru.
Historically, countries in this region have occasionally chosen governments that nationalized the mining industry. Such events can disrupt supplies and lead to higher prices.
Events like miner strikes can also produce supply disruptions and higher prices.
Finally, natural disasters like earthquakes and landslides can slow down mining output. Copper traders should pay attention to geopolitical news that affects the mining industry.
The economic principle of substitution represents a risk of investing in any commodity, and copper is no exception. As prices climb, buyers will seek cheaper substitutions, if available.
Cheaper metals such as aluminum are now a substitute for copper in power cables, electrical equipment, and refrigeration equipment.
Nickel, lead, and iron also competes with copper as substitutes in some industries.
How is Copper Weighed?
The most common weight units to measure copper are pounds (lb), standard ounces (oz), troy ounces (t oz), and grams (g). For copper commodity market prices for trading — you’ll find copper listed in pounds (lb).
One standard ounce of copper is equal to almost exactly 28 grams. One troy ounce is rounded to 31.1 grams — this unit is typically used on exchanges and by bullion dealers.
Here’s a summary of these weight units, and others you may encounter on the copper market:
Copper Bullion Dealers
You can find copper bullion products with the following bullion dealers. Some of them allow you to both buy and sell:
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Copper bullion might be harder to purchase than the likes of gold, silver, platinum, or palladium since it’s not classified as a ‘precious metal’.
How to Set Google Price Alerts for Copper Price News
Keep up with copper price news by setting up Google Alerts. Here’s a quick step-by-step guide:
Learn More About Copper
Want to learn more about copper? These resources can help:
You can also learn about the national economies of countries like China and India, both of which are key players in the copper market.
More, see these precious metal price guides to compare the performance of copper prices against other metals:
FAQs
Copper is currently priced at $4.26 per troy ounce. You can see historical copper prices, real-time price and the metal’s year-to-date performance at the top of the page.
Different exchanges and brokers list different live copper prices because of several reasons. In the case of exchanges, the market maker and data provider may be different. For example, the Copper Futures price on Comex is different from what you see on the London Metal Exchange (LME). Currency conversions also impact the copper price quotes shown.
In the case of brokers and copper derivatives, the spread charged on the copper instrument may also contribute to the price difference.
Copper prices are determined by the demand for copper, primarily commercial. Such demand is driven by the construction and technology industries. Then, the rate of supply through copper mining and production determines what price the commercial consumers pay. Future projections of copper supply and demand are available via various resources.
Despite its relative lack of visibility in the precious metals market, copper is one of the most in-demand precious metals in the 21st century. Copper prices have been on the rise, and its use across a variety of other industries makes copper bullion products a must-have for serious investors. In this product listing, 1 Pound Copper Bullion bars are available for purchase from JM Bullion.
Bar Highlights:
Copper has long been used in a variety of industries, from automotive parts and accessories to residential construction and industrial manufacturing. Among the most common uses of copper is piping found in residential homes. In recent years, copper prices have soared so high that thieves have stripped copper piping from abandoned homes to turn a profit.
This precious metal was first discovered by mankind 10,000 years ago in the Middle East. In addition to homes, copper is extremely popular as a metal alloy in circulation coins because it provides corrosion resistance and stands up to the wear and tear circulation currency faces.
On the obverse side of these 1 Pound Copper Bullion bars are a number of engravings consistent with the “Elemental” design. The central engraving on this side is the listing for copper on the period table of elements. A square contains the elemental number of copper, its label, and atomic weight. These engravings read “29,” “Cu,” and “63.55.”
Additional engravings on the bar include the melting point of copper, its density, and the identifying characteristics of its weight, purity, metal content, and nation of production. Copper melts at a temperatures of 1085 C, while its density is engraved “8.92 g/cc.” USA is engraved at the bottom.
JM Bullion encourages all customers to reach out to our team members with questions. You can direct your inquires to our associates on the phone at 800-276-6508, connect with us online through our live web chat, or send us an email. If you are interested in similar products, be sure to visit our Copper Bars page.