CopperHG=F
The metal economists watch to read the pulse of the global economy.
Past week: -1.45%
30-day price
Where the chart sits — description, not prediction
Trading above both its 50-day ($6.23) and 200-day ($5.58) averages — the longer-term trend reads as up. 30-day range $6.16–$6.65; currently in the middle third of that range. RSI(14) 42 — momentum weak.
Computed from daily closing prices (Yahoo Finance), June 19, 2026. Compare all markets →
What is Copper?
Copper is a reddish-orange base metal with exceptional electrical conductivity, second only to silver among common metals. It has been used by humans for thousands of years and was one of the first metals to be smelted, giving its name to the Copper Age.
Construction wiring, plumbing, and roofing account for the largest share of copper use, followed by electrical equipment, machinery, transport, and consumer electronics. The growth of electric vehicles, charging networks, solar and wind power, and grid upgrades has made copper increasingly central to the energy transition.
What has moved Copper
Global growth and construction
Copper is so sensitive to economic conditions that traders nickname it 'Dr. Copper' for its supposed read on global GDP. Rising construction and manufacturing — particularly in China, which consumes roughly half of global copper — tends to lift demand and prices.
Electrification and the energy transition
Electric vehicles use far more copper than combustion vehicles, and renewable generation plus grid build-out require enormous copper inputs. Decarbonization commitments are a significant long-run demand driver, structurally different from cyclical swings.
Mine supply and falling ore grades
Most of the world's large, easily accessed copper deposits have already been mined, leaving the industry working lower-grade, more remote ores. This structural grade decline means holding production flat requires ever more ore processing, which supports the long-run cost curve.
Chile and Peru supply concentration
Chile and Peru together account for roughly 40% of global copper mine output, with other major supply from the DRC, China, and the US. Labor disputes, water scarcity, and political shifts in the Andes can create meaningful supply disruptions.
Notable moments
Cyprus: the metal's namesake
The Latin word for copper, cuprum, comes from Kypros — Cyprus — a primary source of copper for the ancient Mediterranean. Romans called it aes Cyprium ('metal of Cyprus'), which over centuries contracted into the word 'copper'.
1970s: copper as a market bellwether
The COMEX copper future became an important financial instrument through the commodity boom of the 1970s as industrializing economies drove demand. The period cemented copper's role as an economic bellwether and the price-discovery role COMEX and the London Metal Exchange play today.
1996: the Sumitomo copper scandal
Yasuo Hamanaka, a trader at Japan's Sumitomo Corporation, concealed unauthorized trading losses for years before the scheme collapsed in 1996, with losses of roughly $2.6 billion — then one of the largest trading scandals in commodity history. It led to reforms in position transparency and reporting.
Common questions
Why is copper called 'Dr. Copper'?
The nickname reflects a belief that copper prices, given the metal's pervasive use across construction, manufacturing, and infrastructure, act as a leading indicator of global economic health. Rising prices have often coincided with expanding activity and falling prices with slowdowns, though the relationship is imperfect.
How much copper does an electric vehicle use?
A combustion vehicle contains roughly 20-25 kg of copper, mostly in wiring. A battery electric vehicle typically uses far more — often around 60-80 kg — and charging stations and grid upgrades add still more copper per vehicle deployed.
How is COMEX copper different from LME copper?
Both are major global copper benchmarks but differ in contract specs, hours, and delivery. COMEX copper is priced in US cents per pound for 25,000-pound lots, while the London Metal Exchange prices in US dollars per metric tonne. Many miners and consumers use both to price and hedge.
Is copper a precious metal?
No — copper is a base (industrial) metal. Unlike gold, silver, platinum, and palladium, its price is driven almost entirely by industrial supply and demand rather than investment or monetary demand, and its market is larger by volume and more tied to the economic cycle.