and Chile, but even in those areas, this metal isn’t infinite. The most abundant supply of copper comes from the U.S. Miners are finding less copper on digs, and unearthing new copper sources isn’t as easy as it sounds. Rising demand for copper threatens to outweigh its supply. Smartphones and electric household appliances also require copper parts. The automotive industry forms one of the most substantial copper demands in the world, in part due to modern electric vehicles that use copper wiring.
In recent years, new technology has caused demand for copper to go up. Copper is instead classified as base metal or industrial metal. Although copper has often been used in circulating coinage, it is not considered to be a precious metal like Gold and Silver. Copper has been a valuable commodity for thousands of years, and its uses have only increased as more industries appear. Even copper scrap has value, as copper is one of the few metals whose value and function do not dwindle after recycling.Ĭopper’s malleability makes it easy to work with, and it is readily available worldwide despite the growing potential of a copper shortage. It’s present in metal alloys like sterling silver, cupronickel (copper-nickel), and bronze, and its implementation over thousands of years is a testament to its endurance.Ĭopper is also a native metal, which means it can be used in its natural form. Construction industries use copper for roofing, doors, and handrails, and its antimicrobial and biostatic properties make it perfect for frequently-touched surfaces.Ĭopper is among the top three most commonly consumed metals in the world, following iron and aluminum. Commonly found in the electrical industry for its conductive properties, copper is also used in ship lining and jewelry. With ’s comprehensive copper chart you can quickly find the latest copper spot price and trace the historical value of the metal over the years.Copper is a brownish-orange metal used in countless applications. Therefore, when making investment decisions, it is important to consider that the price of copper significantly relies on the wider performance of the global economy. As such, when the global economy slows down, the demand for the metal usually decreases, negatively weighing on its pricing. The figure is more than double the amount of that of the second-highest producer, Peru, which supplies more than 2.4 million tons of copper per year.Īs the metal is a key material in the construction industry as well as for consumer goods such as electronics and cars, copper demand tends to be economically sensitive. Chile is the world’s largest copper miner, producing more than 5.8 million tons of metal annually. With regard to supply, copper mining is mainly concentrated in Latin America.
While the recycling of old copper helps meet about 45 per cent of global needs, rapidly increasing consumption requires continued development of new metal resources. In 2018, the worldwide consumption of copper reached 23.6 million tons a year and is expected to hit 29.8 million tons by 2027. China, with its huge manufacturing sector, is by far the biggest consumer of the metal in the world. More than 60 per cent of overall copper consumption occurs in Asia. It has a high electrical conductivity, second only to silver, making it a very attractive material for various industrial applications, including wiring, plumbing, motors, generators, transformers, computers, cars, heating and cooling systems.ĭue to its versatility and importance for many industries, the global demand for copper has been continuously growing over the past few decades. Join to be on top of the latest copper rate.Ĭopper is one of the most versatile metals available today. Trading copper offers substantial asset-class diversification, which can be an effective way to lower the overall volatility of a portfolio.Īccording to the historical copper price graph, the metal reached its record high of $4.63 in February 2011. Its utility coupled with a low price makes copper a low-risk investment favoured by international investors. Today, it is the world’s third-most-used metal, after iron and aluminium, and plays a pivotal role in all major economies and the developing world. US30 US Wall Street 30 (USA 30, Dow Jones)Ĭopper Follow our live chart to always keep up to date with the latest copper spot price.Ĭopper is a unique commodity that has a distinctive value in the global market due to its industrial worth.
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