Copper Price OutlookThe price of copper nosedived to a near-two year low over the past month, as the coronavirus epidemic rocked the Chinese economy. On 14 February, the red metal closed the day at USD 5,751 per metric ton, which was 8.3% lower than on the same day last month. Moreover, the price was down 6.5% on a year-to-date basis and was 6.3% lower than on the same day in 2018. After a bullish start to the year, prompted by the ratification of the “phase one” trade deal between the U.S. and China, copper prices plummeted at the end of January on expectations of subdued Chinese demand as the country battles the coronavirus outbreak. An extended Lunar New Year break, coupled with delayed starts at some manufacturers, will hamper the Chinese industrial sector, weighing on demand for the red metal. In addition, with Chinese supply chains coming under strain, treatment charges soared to an eight-month high in February, as smelters struggled to offload their high stock of byproducts in order to free up capacity to increase copper output.
Copper Price History Data (USD per metric ton, aop)
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Copper Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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