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Copper

4.33 USD/oz 0.04 (0.93%) (Last updated - January 23, 2025 11:57 PM UTC )
Day High
3.58
Day Low
3.48
Previous Close
3.55
52 Week Range
3.13 - 5.04
Change YTD
14.25%

About

Performance USD/oz Change
5 Day 4.59%
1 Month 4.59%
3 Months -2.7%
6 Months 6.91%
52 Week 14.25%

January 23, 2025 11:57 PM UTC

Data Powered by Stockdio. Data delayed by 5 minutes unless otherwise indicated.

Copper is a corrosion-resistant and highly conductive metal that finds numerous industrial applications. Copper or ‘red metal’ can be combined easily with other metals to form alloys. An average home could contain up to 180kg of copper. One of the most important aspects of copper is that it can be recycled easily, and 80% of copper ever mined/produced is still in use.

The electric vehicle (EV) boom has bolstered the demand for copper significantly. A typical EV uses five times more copper than an equivalent conventional car. The transport sector as a whole consumes nearly 12% of all copper. The biggest chunk of the metal goes into the manufacturing of equipment, closely followed by the building construction industry.

History of copper

Almost all ancient civilizations have shown evidence of using copper, mostly in the form of coins. The early civilizations soon discovered the alloy properties of copper, which led to the Bronze Age between 3,000- 2,500 BC. Bronze is an alloy of copper and tin.

As the world is shifting towards renewable energy sources like solar and wind, the demand for copper is slated to increase further. Any constraint on the supply side puts pressure on the prices of red metal.

The price of copper is influenced majorly by the demand-and-supply balance. Also, the price trend of copper represents the health of the global economy. If prices are on a surge and sustain at higher levels, then it could be assumed that the global economy is in better shape and growing. This is due to the widespread use of copper in all sectors of the economy.

However, here are the few major factors that drive red metal’s price:

  1. Global economic condition.
  2. Demand and supply.
  3. Condition of the Chinese economy (50% demand)
Code Company Price Chg %Chg High Low Volume Market Cap
29M 29Metals Ltd 0.220 0.000 0.000 0.225 0.217 891679 301.123 M
A1M AIC Mines Limited 0.330 0.000 0.000 0.345 0.325 4688670 189.975 M
AGR Aguia Resources Ltd 0.030 0.000 0.000 0.030 0.029 1187788 40.867 M
AIS Aeris Resources Ltd 0.160 -0.005 -3.030 0.167 0.155 2893050 152.022 M
AMI Aurelia Metals 0.175 0.000 0.000 0.180 0.172 2038494 290.948 M
AML Aeon Metals Ltd 0.005 0.000 0.000 0.005 0.005 -- 5.482 M
AOA Ausmon Resources Ltd 0.002 0.000 0.000 0.002 0.002 -- 2.410 M
AR1 Austral Resources Australia 0.160 0.000 0.000 0.160 0.160 -- 84.347 M
ARD Argent Minerals Ltd 0.018 -0.002 -10.000 0.020 0.018 702207 26.022 M
AS2 Askari Metals Ltd 0.011 0.000 0.000 0.012 0.011 1564259 2.844 M
AUR Auris Minerals Ltd 0.006 0.000 0.000 0.006 0.006 389166 2.860 M
AZL Arizona Lithium Ltd 0.011 0.000 0.000 0.012 0.011 4915961 50.180 M
BHP BHP Group Limited 39.120 -0.680 -1.709 39.510 39.010 6545028 198,348.948 M
BMO Bastion Minerals Ltd 0.004 0.000 0.000 0.004 0.004 441907 3.379 M
BRX Belararox Ltd 0.175 0.020 12.903 0.180 0.165 193778 25.194 M
CHN Chalice Mining Limited 1.200 -0.020 -1.639 1.235 1.192 2548795 466.832 M
CLA Celsius Resources Ltd 0.010 0.001 11.111 0.010 0.010 1855668 26.692 M
COY Coppermoly Ltd 0.013 0.000 0.000 0.013 0.013 50000 9.200 M
CST Castile Resources Ltd 0.061 -0.002 -3.175 0.063 0.059 34412 18.299 M
CVV Caravel Minerals Ltd 0.200 0.005 2.564 0.200 0.195 179345 111.490 M
CWX Carawine Resources Limited 0.105 0.000 0.000 0.105 0.099 35575 24.793 M
CYM Cyprium Metals Ltd 0.026 -0.001 -3.704 0.032 0.026 10939556 46.215 M
CZN Corazon Mining Ltd 0.002 0.000 0.000 0.002 0.002 3235096 2.369 M
ENR Encounter Resources Ltd 0.270 -0.010 -3.571 0.285 0.265 716518 134.674 M
EVN Evolution Mining Ltd 5.660 -0.230 -3.905 5.780 5.585 8594106 11,259.664 M
GCR Golden Cross Resources Ltd 0.002 0.000 0.000 0.002 0.002 -- 2.195 M
HAV Havilah Resources Ltd 0.210 0.000 0.000 0.215 0.210 3798 71.244 M
HCH Hot Chili Ltd 0.665 -0.010 -1.482 0.680 0.665 367876 100.694 M
HGO Hillgrove Resources Ltd 0.040 -0.003 -6.977 0.042 0.039 8994948 83.822 M
HLX Helix Resources Ltd 0.003 -0.001 -25.000 0.003 0.003 3150000 10.093 M
IGO IGO Ltd 5.210 -0.130 -2.435 5.330 5.190 2854770 4,032.452 M
IPT Impact Minerals Ltd 0.011 0.000 0.000 0.011 0.011 830834 33.654 M
LEG Legend Mining Ltd 0.010 0.000 0.000 0.010 0.010 2743 29.095 M
LKY Locksley Resources Ltd 0.017 0.002 13.333 0.017 0.017 424069 2.493 M
MLX Metals X Ltd 0.455 0.005 1.111 0.460 0.450 2005163 403.693 M
MRD Mount Ridley Mines Ltd 0.002 -0.001 -20.000 0.002 0.002 27900 2.336 M
NME Nex Metals Explorations Ltd 0.037 0.003 8.824 0.037 0.037 40000 11.526 M
PNN Power Minerals Ltd 0.092 0.002 2.222 0.092 0.090 56554 10.475 M
PTR Petratherm Ltd 0.415 -0.035 -7.778 0.465 0.400 2105901 128.317 M
QML QMines Ltd 0.056 -0.003 -5.085 0.059 0.056 90660 19.248 M
RIO Rio Tinto Ltd 118.000 -1.610 -1.346 119.180 117.500 861654 191,642.616 M
RML Resolution Minerals Ltd 0.011 0.000 0.000 0.011 0.011 38193 2.490 M
SFR Sandfire Resources NL 9.900 -0.220 -2.174 10.010 9.810 905040 4,541.179 M
SPQ Superior Resources Ltd 0.006 0.000 0.000 0.007 0.006 214285 15.189 M
SYR Syrah Resources Ltd 0.230 -0.020 -8.000 0.250 0.230 2065389 238.025 M
TG1 Techgen Metals Ltd 0.031 -0.001 -3.125 0.033 0.031 2326112 4.919 M
TLM Talisman Mining Ltd 0.205 -0.010 -4.651 0.205 0.205 70020 38.606 M
WC8 Wildcat Resources Ltd 0.235 -0.005 -2.083 0.245 0.230 3068554 314.496 M
XAM Xanadu Mines Ltd 0.046 -0.001 -2.128 0.048 0.045 2607181 87.961 M
ZIM Zimplats Holdings Ltd 12.110 -0.090 -0.738 12.200 11.950 7683 1,303.496 M
* Data powered by EODHD®. Data delayed 20 minutes unless otherwise indicated.

Frequently Asked Questions

South America dominates the global mining industry. Chile is the world’s largest producer of copper followed by Peru. China is the world’s largest consumer of copper, nearly 50% of globally produced copper finds its use in Chinese factories. China is also the third-largest producer of red metal.

The Corporacion Nacional del Cobre de Chile or Codelco is the world’s largest copper producing company. Codelco produced 1.73 million tonnes of copper in 2020. Australian mining giant BHP Group with 1.72 million tonnes of copper produced in 2020 ranks second in the world.

Copper demand is expected to remain moderate with the world moving towards battery technology. The price trend seems to support the current rise in demand, but commodity prices are highly cyclical in nature.

Investors should pick copper miners who have good exposure to produce assets and also have reserves/resources for future feedstock, operating at a low cost. As the world is fighting climate change and environmental concerns are being given top priority, investors should look at the ESG record of the company before investing in any mining company.

Investing in mature copper miners will also provide dividends with decent dividend yields.

To leverage the bullish copper market, there are two ways through which investors can get exposure to the copper market. The first one is to buy a stock in a copper mining company and the second is through Exchange Traded Funds or ETFs which deals specifically in copper.

Investors can pick major or miner copper players depending on their risk appetite and funds available with them. Some of the major copper miners listed on the ASX are BHP Group (ASX:BHP), Newcrest Mining Limited (ASX: NCM), OZ Minerals Limited (ASX:OZL).

There are no pure-play copper ETF on the ASX. There are a few listed in the United States:

  1. Global X Copper Miners (COPX)
  2. United States Copper Index Fund (CPER)
  3. iPath Series B Bloomberg Copper Subindex Total Return ETN (JJC)

Australia is among the top producers of red metal. The copper-producing centres are concentrated in South Australia and Queensland. The Olympic Dam copper-uranium-gold deposit is the largest copper mine located in South Australia. Mt Isa copper-lead-zinc deposit is another large deposit in the country.

Most of the copper is mined from underground mines in Australia. Copper ore is mined using the traditional method, which involves breaking the ore and bringing it to the surface for crushing. Then the ore is ground finely before being sent for treatment through the flotation process.

Some of the major copper deposits in Australia include Emmie Bluff, Cadia Valley, Mount Elliott, Northparkes, and Mount Gordon.

Historical Graph


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