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Copper

4.1 USD/oz -0.18 (-4.21%) (Last updated - December 20, 2024 10:38 PM UTC )

Day High

3.58

Day Low

3.48

Previous Close

3.55

52 Week Range

3.13 - 5.04

Change YTD

5.4%

Risk Disclaimer

About

Performance USD/oz	Change
5 Day	-0.97%
1 Month	-0.97%
3 Months	-7.87%
6 Months	1.23%
52 Week	4.86%

December 20, 2024 10:38 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:

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	0.240	0.000	0.000	0.245	0.237	6486276	302.460 M
A1M	A1M AIC Mines Limited	0.320	-0.010	-3.030	0.325	0.315	479790	205.519 M
AGR	AGR Aguia Resources Ltd	0.032	0.000	0.000	0.032	0.029	1728047	43.592 M
AIS	AIS Aeris Resources Ltd	0.180	0.005	2.857	0.180	0.165	1435783	169.317 M
AMI	AMI Aurelia Metals	0.165	-0.005	-2.941	0.170	0.165	4030245	304.481 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	--	2.410 M
AR1	AR1 Austral Resources Australia	0.160	0.000	0.000	0.160	0.160	--	84.347 M
ARD	ARD Argent Minerals Ltd	0.017	-0.002	-10.526	0.018	0.016	5048164	24.576 M
AS2	AS2 Askari Metals Ltd	0.011	-0.002	-15.385	0.011	0.011	235660	2.347 M
AUR	AUR Auris Minerals Ltd	0.006	0.001	20.000	0.006	0.006	332900	2.860 M
AZL	AZL Arizona Lithium Ltd	0.013	0.001	8.333	0.013	0.012	1081008	53.686 M
BHP	BHP BHP Group Limited	39.680	-0.590	-1.465	39.830	39.470	11328412	211,886.588 M
BMO	BMO Bastion Minerals Ltd	0.004	-0.001	-20.000	0.004	0.004	266350	3.379 M
BRX	BRX Belararox Ltd	0.180	0.030	20.000	0.180	0.150	347763	22.840 M
CHN	CHN Chalice Mining Limited	1.080	-0.040	-3.571	1.095	1.062	2815916	468.778 M
CLA	CLA Celsius Resources Ltd	0.010	0.000	0.000	0.010	0.010	1036667	33.423 M
COY	COY Coppermoly Ltd	0.014	0.000	0.000	0.014	0.014	--	9.907 M
CST	CST Castile Resources Ltd	0.075	-0.008	-9.639	0.083	0.075	52415	18.868 M
CVV	CVV Caravel Minerals Ltd	0.185	0.000	0.000	0.185	0.175	583186	103.129 M
CWX	CWX Carawine Resources Limited	0.099	0.001	1.020	0.099	0.099	1500	23.376 M
CYM	CYM Cyprium Metals Ltd	0.024	0.000	0.000	0.024	0.022	4740824	41.201 M
CZN	CZN Corazon Mining Ltd	0.003	0.000	0.000	0.003	0.003	--	1.536 M
ENR	ENR Encounter Resources Ltd	0.300	-0.020	-6.250	0.320	0.300	1172134	169.026 M
EVN	EVN Evolution Mining Ltd	4.820	-0.140	-2.823	4.820	4.610	9533753	10,424.142 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	0.210	-0.017	-7.489	0.225	0.210	170567	79.725 M
HCH	HCH Hot Chili Ltd	0.690	-0.005	-0.719	0.700	0.645	557864	109.022 M
HGO	HGO Hillgrove Resources Ltd	0.052	0.001	1.961	0.052	0.049	3301630	108.969 M
HLX	HLX Helix Resources Ltd	0.003	-0.001	-25.000	0.004	0.003	2752733	13.057 M
IGO	IGO IGO Ltd	4.900	-0.160	-3.162	5.030	4.825	6628112	3,877.212 M
IPT	IPT Impact Minerals Ltd	0.010	0.000	0.000	0.011	0.010	470887	33.654 M
LEG	LEG Legend Mining Ltd	0.009	-0.001	-10.000	0.009	0.009	1992162	29.095 M
LKY	LKY Locksley Resources Ltd	0.017	0.000	0.000	0.017	0.017	200000	2.640 M
MLX	MLX Metals X Ltd	0.410	0.010	2.500	0.410	0.395	2973051	376.587 M
MRD	MRD Mount Ridley Mines Ltd	0.010	0.000	0.000	0.010	0.010	--	7.785 M
NME	NME Nex Metals Explorations Ltd	0.038	0.004	11.765	0.039	0.037	81333	8.441 M
PNN	PNN Power Minerals Ltd	0.095	0.004	4.396	0.095	0.091	47359	10.019 M
PTR	PTR Petratherm Ltd	0.285	-0.005	-1.724	0.295	0.260	843073	92.759 M
QML	QML QMines Ltd	0.053	-0.005	-8.621	0.056	0.053	350841	21.310 M
RIO	RIO Rio Tinto Ltd	117.400	-1.090	-0.920	117.605	116.200	1329249	201,625.813 M
RML	RML Resolution Minerals Ltd	0.013	0.000	0.000	0.013	0.013	94115	3.220 M
SFR	SFR Sandfire Resources NL	9.270	-0.270	-2.830	9.290	9.010	2317052	4,770.532 M
SPQ	SPQ Superior Resources Ltd	0.007	0.000	0.000	0.007	0.007	13300	13.019 M
SYR	SYR Syrah Resources Ltd	0.175	-0.005	-2.778	0.182	0.172	7525827	196.629 M
TG1	TG1 Techgen Metals Ltd	0.034	-0.002	-5.556	0.036	0.034	311706	5.236 M
TLM	TLM Talisman Mining Ltd	0.210	-0.010	-4.546	0.220	0.210	128821	45.197 M
WC8	WC8 Wildcat Resources Ltd	0.205	0.005	2.500	0.205	0.190	3483385	306.388 M
XAM	XAM Xanadu Mines Ltd	0.050	0.002	4.167	0.050	0.048	1709539	87.703 M
ZIM	ZIM Zimplats Holdings Ltd	12.350	-0.770	-5.869	13.120	12.350	9436	1,488.634 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.