Copper Prices - 45 Year Historical Chart (2024)

FAQs

What is the historical price of copper? ›

Historically, Copper reached an all time high of 5.20 in May of 2024. Copper - data, forecasts, historical chart - was last updated on May 20 of 2024.

From 1980 to 1985, prices dropped from $0.98/lb to $0.61/lb.

United States Copper Index Fund (CPER): Historical Returns

In the last 30 Years, the United States Copper Index Fund (CPER) ETF obtained a 5.02% compound annual return, with a 24.91% standard deviation.

S&P Global forecasts that copper consumption could double to 50 million metric tons by 2035, with prices in 2024 hitting $8,602 per ton thanks to demand from the Asian market. Similarly, Fitch Solutions forecasts that copper could average $8,000 per ton in 2024 due to short-term demand from China.

Today's copper market price is $4.88 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.

It takes about a decade for a new copper mine to go from prospecting to production. This could result in a yearly deficit of about 6 MMT by 2030. The same report suggested that the price of copper could reach U.S. $15,000 a metric ton in the coming years.

A copper deficit is set to inundate global markets throughout 2023, fueled by increasingly challenged South American supply streams and higher demand pressures.

It is no great fun stripping wire down, especially by hand, but consider the fact that “Clean Copper Wire” can bring 50 to 100 percent higher return when sold than insulated wire and you'll realize it is worth the investment in time or, even better, a Copper Wire Stripper.

Copper is headed for a price spurt over the next two years, as mining supply disruptions coincide with higher demand for the metal. Rising demand driven by the green energy transition and a decline in the U.S. dollar strength come the second half of 2024 will fuel support for copper prices.

What is the most valuable copper to scrap? ›

Bare bright copper is the most valuable – uncoated, unalloyed wire no thinner than 16 gauge. Most copper can also be recycled without any loss to its quality.

Copper Prices Break Below Sideways Range, Create Lower Low

4 for the first time since May. A new lower low followed shortly after on Oct. 5. This saw prices break below their long-term sideways range to their lowest level since November 2022.

Current estimates suggest that copper reserves could last for about 80 years at present consumption rates. However, ongoing developments in mining technology and recycling, as well as new discoveries, could extend the life of copper reserves beyond current projections.

This makes copper prices a good leading indicator of the economic cycle. For example, if orders for copper are being canceled or delayed, the price will drop. This can be a leading indicator that an economic recession is at hand. Conversely, if orders for copper are rising, the price will go up.

Current copper resources are estimated to exceed 5,000 million tonnes (USGS, 2014 & 2017). According to USGS data, since 1950 there has always been, on average, 40 years of copper reserves and over 200 years of resources left.

There is so much demand for the metal right now, the price of copper futures is at its highest since the middle of 2022. A commodity price generally goes up because there's more demand than supply. And right now, there are signs that demand for copper is rising.

Data provider Trading Economics predicted copper to trade around $3.75 per pound in the first quarter of 2024 and $3.57 in the next 12 months. TD Securities projected copper to trade at $3.65/pound by the end of 2024, slightly down from $3.67/pound in Q1 2024.

Pros. Price appreciation: The long-term demand side of the equation for copper is a key benefit to investing in the “red metal.” Supply shortages are expected to develop that will likely push copper's price higher over the long term.