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Copper

4.28 USD/oz 0.01 (0.23%) (Last updated - September 17, 2024 12:00 AM UTC )

Day High

3.58

Day Low

3.48

Previous Close

3.55

52 Week Range

3.13 - 5.04

Change YTD

0%

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About

Performance USD/oz	Change
5 Day	0%
1 Month	0%
3 Months	0%
6 Months	0%
52 Week	0%

September 17, 2024 12:00 AM 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:

Global economic condition.
Demand and supply.
Condition of the Chinese economy (50% demand)

Code	Company	Price	Chg	%Chg	High	Low	Volume	Market Cap
29M	29M 29Metals Ltd	0.365	-0.015	-3.947	0.380	0.360	2153512	273.809 M
A1M	A1M AIC Mines Limited	0.335	-0.005	-1.471	0.345	0.327	1093008	189.975 M
AGR	AGR Aguia Resources Ltd	0.045	-0.002	-4.255	0.048	0.045	385471	63.541 M
AIS	AIS Aeris Resources Ltd	0.185	0.005	2.778	0.185	0.175	1193348	193.505 M
AMI	AMI Aurelia Metals	0.165	-0.010	-5.714	0.175	0.165	2197534	299.406 M
AML	AML Aeon Metals Ltd	0.005	0.000	0.000	0.005	0.005	--	5.482 M
AOA	AOA Ausmon Resources Ltd	0.002	0.000	0.000	0.002	0.002	--	2.298 M
AR1	AR1 Austral Resources Australia	0.160	0.000	0.000	0.160	0.160	--	84.347 M
ARD	ARD Argent Minerals Ltd	0.024	0.000	0.000	0.026	0.024	3978617	36.098 M
AS2	AS2 Askari Metals Ltd	0.021	0.000	0.000	0.022	0.021	351195	2.550 M
AUR	AUR Auris Minerals Ltd	0.007	0.000	0.000	0.007	0.007	221159	3.336 M
AZL	AZL Arizona Lithium Ltd	0.015	0.000	0.000	0.015	0.014	13121917	71.581 M
BHP	BHP BHP Group Limited	40.550	-0.350	-0.856	40.550	40.030	6988271	217,970.917 M
BMO	BMO Bastion Minerals Ltd	0.007	0.001	16.667	0.007	0.007	126231	3.086 M
BRX	BRX Belararox Ltd	0.220	0.005	2.326	0.225	0.215	322547	29.211 M
CHN	CHN Chalice Mining Limited	1.460	-0.025	-1.684	1.505	1.430	3351712	616.608 M
CLA	CLA Celsius Resources Ltd	0.011	0.001	10.000	0.011	0.011	4815751	25.710 M
COY	COY Coppermoly Ltd	0.010	0.000	0.000	0.010	0.010	--	7.077 M
CST	CST Castile Resources Ltd	0.087	-0.006	-6.452	0.093	0.087	67759	18.868 M
CVV	CVV Caravel Minerals Ltd	0.175	0.005	2.941	0.180	0.170	681412	89.192 M
CWX	CWX Carawine Resources Limited	0.115	0.000	0.000	0.115	0.115	--	23.613 M
CYM	CYM Cyprium Metals Ltd	0.018	0.000	0.000	0.019	0.018	616021	32.045 M
CZN	CZN Corazon Mining Ltd	0.005	0.000	0.000	0.005	0.005	100010	4.007 M
ENR	ENR Encounter Resources Ltd	0.345	0.005	1.471	0.345	0.335	208790	158.140 M
EVN	EVN Evolution Mining Ltd	4.640	-0.060	-1.277	4.660	4.590	8988486	9,508.472 M
GCR	GCR Golden Cross Resources Ltd	0.003	0.000	0.000	0.003	0.003	--	4.389 M
HAV	HAV Havilah Resources Ltd	0.195	0.005	2.632	0.195	0.195	49087	67.851 M
HCH	HCH Hot Chili Ltd	0.810	-0.025	-2.994	0.840	0.810	30109	122.650 M
HGO	HGO Hillgrove Resources Ltd	0.057	-0.002	-3.390	0.059	0.057	2140731	129.925 M
HLX	HLX Helix Resources Ltd	0.004	0.000	0.000	0.004	0.004	1144991	13.057 M
IGO	IGO IGO Ltd	5.210	0.010	0.192	5.300	5.105	5937701	3,998.375 M
IPT	IPT Impact Minerals Ltd	0.012	0.000	0.000	0.012	0.012	642142	36.713 M
LEG	LEG Legend Mining Ltd	0.013	0.000	0.000	0.013	0.012	74597	37.823 M
LKY	LKY Locksley Resources Ltd	0.021	0.000	0.000	0.021	0.020	1071230	3.227 M
MLX	MLX Metals X Ltd	0.460	-0.020	-4.167	0.485	0.455	2569834	421.419 M
MRD	MRD Mount Ridley Mines Ltd	0.001	0.000	0.000	0.001	0.001	100000	7.785 M
NME	NME Nex Metals Explorations Ltd	0.031	-0.005	-13.889	0.031	0.030	192764	9.802 M
PNN	PNN Power Minerals Ltd	0.099	0.000	0.000	0.099	0.096	178790	10.900 M
PTR	PTR Petratherm Ltd	0.045	0.002	4.651	0.050	0.044	653590	14.264 M
QML	QML QMines Ltd	0.062	0.001	1.639	0.062	0.062	218591	21.310 M
RIO	RIO Rio Tinto Ltd	113.660	-3.880	-3.301	115.330	113.460	1873032	197,567.332 M
RML	RML Resolution Minerals Ltd	0.002	0.000	0.000	0.002	0.002	250000	3.220 M
SFR	SFR Sandfire Resources NL	10.100	-0.020	-0.198	10.180	9.880	1745322	4,840.704 M
SPQ	SPQ Superior Resources Ltd	0.007	0.001	16.667	0.007	0.006	1171495	15.189 M
SYR	SYR Syrah Resources Ltd	0.240	-0.005	-2.041	0.250	0.240	4204836	284.595 M
TG1	TG1 Techgen Metals Ltd	0.030	0.002	7.143	0.030	0.027	425641	4.443 M
TLM	TLM Talisman Mining Ltd	0.220	-0.005	-2.222	0.230	0.210	597256	41.430 M
WC8	WC8 Wildcat Resources Ltd	0.370	0.030	8.824	0.380	0.335	9443233	358.602 M
XAM	XAM Xanadu Mines Ltd	0.054	0.001	1.887	0.055	0.053	3837453	89.233 M
ZIM	ZIM Zimplats Holdings Ltd	14.200	-1.190	-7.732	15.290	13.510	24280	1,646.861 M

* Data powered by EODHD®. Data delayed 20 minutes unless otherwise indicated.

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Frequently Asked Questions

1. Who is the largest producer of copper in the world?

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.

2. Is copper a good investment?

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.

3. How to invest in copper in Australia?

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:

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

4. What are the most prominent copper mining areas in Australia?

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.