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

Copper

4.15 USD/oz 0.01 (0.24%) (Last updated - September 06, 2024 12:56 AM UTC )
Day High
3.58
Day Low
3.48
Previous Close
3.55
52 Week Range
3.13 - 5.04
Change YTD
6.68%

About

Performance USD/oz Change
5 Day -1.43%
1 Month 3.75%
3 Months -11.13%
6 Months 6.68%
52 Week 9.5%

September 06, 2024 12:56 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:

  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 0.350 0.010 2.941 0.352 0.340 1630741 270.217 M
A1M AIC Mines Limited 0.295 -0.005 -1.667 0.305 0.290 945226 208.371 M
AGR Aguia Resources Ltd 0.032 -0.001 -3.030 0.033 0.032 100954 33.574 M
AIS Aeris Resources Ltd 0.175 0.010 6.061 0.175 0.162 1557653 217.693 M
AMI Aurelia Metals 0.145 -0.015 -9.375 0.152 0.145 5651863 304.481 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 -- 3.446 M
AR1 Austral Resources Australia 0.160 0.000 0.000 0.160 0.160 -- 84.347 M
ARD Argent Minerals Ltd 0.015 -0.001 -6.250 0.015 0.014 480222 24.368 M
AS2 Askari Metals Ltd 0.017 -0.003 -15.000 0.020 0.017 455000 3.908 M
AUR Auris Minerals Ltd 0.007 0.000 0.000 0.007 0.007 -- 3.336 M
AZL Arizona Lithium Ltd 0.014 -0.001 -6.667 0.014 0.014 858284 80.529 M
BHP BHP Group Limited 38.910 0.270 0.699 39.190 38.800 7969860 210,772.787 M
BMO Bastion Minerals Ltd 0.006 0.000 0.000 0.006 0.006 403919 2.611 M
BRX Belararox Ltd 0.295 0.005 1.724 0.295 0.295 155309 20.882 M
CHN Chalice Mining Limited 0.985 -0.005 -0.505 1.015 0.975 2128489 418.136 M
CLA Celsius Resources Ltd 0.011 -0.001 -8.333 0.012 0.011 784260 31.563 M
COY Coppermoly Ltd 0.010 0.000 0.000 0.010 0.010 201000 7.077 M
CST Castile Resources Ltd 0.072 -0.008 -10.000 0.080 0.075 126456 19.352 M
CVV Caravel Minerals Ltd 0.140 -0.015 -9.677 0.145 0.140 418311 89.128 M
CWX Carawine Resources Limited 0.095 -0.005 -5.000 0.095 0.095 57142 20.307 M
CYM Cyprium Metals Ltd 0.028 -0.002 -6.667 0.029 0.028 874620 54.935 M
CZN Corazon Mining Ltd 0.005 0.000 0.000 0.005 0.004 101256 3.340 M
ENR Encounter Resources Ltd 0.475 0.005 1.064 0.480 0.450 358069 284.022 M
EVN Evolution Mining Ltd 3.950 0.020 0.509 3.970 3.900 4821765 8,122.250 M
GCR Golden Cross Resources Ltd 0.003 0.000 0.000 0.003 0.003 17 2.195 M
HAV Havilah Resources Ltd 0.175 0.005 2.941 0.175 0.175 41571 64.911 M
HCH Hot Chili Ltd 0.785 -0.030 -3.681 0.815 0.785 54142 141.508 M
HGO Hillgrove Resources Ltd 0.051 -0.002 -3.774 0.051 0.050 1253030 138.307 M
HLX Helix Resources Ltd 0.004 -0.001 -11.111 0.004 0.004 100000 9.793 M
IGO IGO Ltd 5.270 0.200 3.945 5.285 5.110 5509009 4,263.418 M
IPT Impact Minerals Ltd 0.012 -0.001 -7.692 0.013 0.012 934030 45.891 M
LEG Legend Mining Ltd 0.013 0.001 8.333 0.013 0.012 204538 34.914 M
LKY Locksley Resources Ltd 0.023 0.000 0.000 0.023 0.023 -- 3.667 M
MLX Metals X Ltd 0.400 0.010 2.564 0.405 0.385 3199669 394.204 M
MRD Mount Ridley Mines Ltd 0.001 0.000 0.000 0.001 0.001 500000 7.785 M
NME Nex Metals Explorations Ltd 0.049 -0.001 -2.000 0.050 0.049 135000 9.455 M
PNN Power Minerals Ltd 0.084 -0.007 -7.692 0.090 0.084 104300 10.680 M
PTR Petratherm Ltd 0.020 0.000 0.000 0.020 0.020 -- 4.979 M
QML QMines Ltd 0.074 0.008 12.121 0.075 0.069 4397820 11.270 M
RIO Rio Tinto Ltd 107.090 1.410 1.334 107.170 105.350 1253778 183,179.739 M
RML Resolution Minerals Ltd 0.002 -0.001 -20.000 0.002 0.001 12952377 4.830 M
SFR Sandfire Resources NL 8.150 0.110 1.368 8.240 8.060 1600591 3,732.107 M
SPQ Superior Resources Ltd 0.009 -0.002 -18.182 0.010 0.009 2124196 20.012 M
SYR Syrah Resources Ltd 0.200 -0.005 -2.439 0.210 0.200 3677937 274.246 M
TG1 Techgen Metals Ltd 0.032 -0.001 -3.030 0.032 0.032 15252 3.716 M
TLM Talisman Mining Ltd 0.210 -0.010 -4.546 0.210 0.210 35047 54.613 M
WC8 Wildcat Resources Ltd 0.225 -0.030 -11.765 0.247 0.220 5817224 289.574 M
XAM Xanadu Mines Ltd 0.055 -0.002 -3.509 0.056 0.055 586878 96.097 M
ZIM Zimplats Holdings Ltd 14.760 0.110 0.751 15.390 14.650 3615 1,792.173 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


Chart by TradingView
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.