Copper Spot Price
Live copper prices and interactive charts
Frequently Asked Questions About Copper Prices
Why is copper important?
Copper is essential to modern civilization as the best non-precious electrical conductor. It's critical for: power generation and transmission, electronics and telecommunications, construction and plumbing, electric vehicles (EVs use 3-4x more copper than conventional cars), renewable energy infrastructure, and industrial machinery. Copper's unique combination of conductivity, ductility, and corrosion resistance makes it irreplaceable in many applications.
What drives copper prices?
Copper prices respond to: (1) Global economic growth (called "Dr. Copper" for its economic predictive power); (2) China demand (50% of global consumption); (3) Mining supply and production disruptions; (4) Electric vehicle and renewable energy demand; (5) Construction and infrastructure spending; (6) US Dollar strength; (7) Inventory levels; and (8) Substitution threats (aluminum in some applications).
Is copper a good investment?
Copper offers exposure to global economic growth and the clean energy transition. Investment considerations include: strong demand from EVs and renewable energy, tight supply from mature mines and permitting delays, economic sensitivity (both risk and opportunity), and inflation hedge characteristics. Copper can be accessed through futures, ETFs, or mining stocks. It's considered a pro-cyclical industrial commodity.
What is the copper deficit?
The copper deficit refers to projected future supply shortfalls as demand growth (driven by EVs, renewables, and electrification) outpaces new mine supply. Factors include: declining ore grades at existing mines, 10-15 year lead times for new mines, permitting challenges, and massive demand from energy transition. Some analysts forecast multi-million tonne annual deficits by 2030, potentially supporting higher prices.
How is copper used in electric vehicles?
Electric vehicles use 3-4 times more copper than conventional cars (40-80 kg vs 20-25 kg), including: battery packs and connections, electric motors and inverters, onboard charging systems, wiring harnesses, and infrastructure charging stations. As EVs reach 30-50% of global auto sales by 2030, this represents a significant demand driver for copper markets.
Why is copper called Dr. Copper?
"Dr. Copper" earned its PhD in economics because copper prices have historically predicted economic turns. As copper is used widely across industries (construction, manufacturing, infrastructure), its demand correlates closely with economic activity. Price increases often signal economic expansion, while price declines may indicate slowdown. Many investors watch copper as a leading indicator of global economic health.