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Copper

4.46 USD/oz 0.18 (4.21%) (Last updated - November 05, 2024 11:59 PM UTC )

Day High

3.58

Day Low

3.48

Previous Close

3.55

52 Week Range

3.13 - 5.04

Change YTD

14.65%

Risk Disclaimer

About

Performance USD/oz	Change
5 Day	7.73%
1 Month	7.73%
3 Months	0.22%
6 Months	10.12%
52 Week	21.53%

November 05, 2024 11:59 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	0.390	0.000	0.000	0.400	0.390	1168230	294.871 M
A1M	A1M AIC Mines Limited	0.335	-0.015	-4.286	0.350	0.335	404331	204.368 M
AGR	AGR Aguia Resources Ltd	0.048	0.000	0.000	0.049	0.047	472552	66.189 M
AIS	AIS Aeris Resources Ltd	0.190	-0.010	-5.000	0.205	0.190	1973009	212.856 M
AMI	AMI Aurelia Metals	0.185	0.005	2.778	0.190	0.180	1890963	324.780 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	150000	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	0.028	0.001	3.704	0.028	0.026	6780949	43.318 M
AS2	AS2 Askari Metals Ltd	0.025	0.000	0.000	0.025	0.024	79000	2.844 M
AUR	AUR Auris Minerals Ltd	0.007	0.000	0.000	0.007	0.007	54800	3.336 M
AZL	AZL Arizona Lithium Ltd	0.016	0.001	6.667	0.016	0.015	2468347	76.055 M
BHP	BHP BHP Group Limited	42.600	-0.030	-0.070	43.200	42.170	5191917	215,638.573 M
BMO	BMO Bastion Minerals Ltd	0.006	-0.001	-14.286	0.009	0.006	20523855	4.115 M
BRX	BRX Belararox Ltd	0.230	-0.010	-4.167	0.235	0.230	184800	23.536 M
CHN	CHN Chalice Mining Limited	1.780	-0.155	-8.010	1.960	1.780	4611452	708.807 M
CLA	CLA Celsius Resources Ltd	0.010	0.000	0.000	0.011	0.010	2023437	25.710 M
COY	COY Coppermoly Ltd	0.010	0.001	11.111	0.010	0.010	8833	6.369 M
CST	CST Castile Resources Ltd	0.078	-0.006	-7.143	0.080	0.078	56200	21.771 M
CVV	CVV Caravel Minerals Ltd	0.170	0.005	3.030	0.170	0.165	225476	89.192 M
CWX	CWX Carawine Resources Limited	0.100	0.000	0.000	0.100	0.099	212829	22.196 M
CYM	CYM Cyprium Metals Ltd	0.022	-0.002	-8.333	0.024	0.022	850563	39.675 M
CZN	CZN Corazon Mining Ltd	0.006	0.000	0.000	0.006	0.005	100000	3.340 M
ENR	ENR Encounter Resources Ltd	0.365	0.005	1.389	0.365	0.345	161865	162.658 M
EVN	EVN Evolution Mining Ltd	5.110	-0.010	-0.195	5.220	5.040	7469222	10,333.998 M
GCR	GCR Golden Cross Resources Ltd	0.004	0.000	0.000	0.004	0.004	6703	4.389 M
HAV	HAV Havilah Resources Ltd	0.195	0.000	0.000	0.195	0.190	81015	67.851 M
HCH	HCH Hot Chili Ltd	0.840	0.030	3.704	0.840	0.820	99127	127.950 M
HGO	HGO Hillgrove Resources Ltd	0.064	0.000	0.000	0.065	0.064	353096	140.403 M
HLX	HLX Helix Resources Ltd	0.004	0.000	0.000	0.004	0.004	360000	16.321 M
IGO	IGO IGO Ltd	5.060	-0.300	-5.597	5.420	5.050	5834216	4,036.238 M
IPT	IPT Impact Minerals Ltd	0.012	-0.001	-7.692	0.013	0.012	1505000	36.713 M
LEG	LEG Legend Mining Ltd	0.012	0.000	0.000	0.012	0.011	1278543	34.914 M
LKY	LKY Locksley Resources Ltd	0.023	0.000	0.000	0.023	0.022	2062059	4.107 M
MLX	MLX Metals X Ltd	0.480	-0.015	-3.030	0.507	0.480	2212910	430.385 M
MRD	MRD Mount Ridley Mines Ltd	0.001	0.000	0.000	0.001	0.001	4490049	7.785 M
NME	NME Nex Metals Explorations Ltd	0.036	0.008	28.571	0.036	0.031	124742	8.168 M
PNN	PNN Power Minerals Ltd	0.099	-0.001	-1.000	0.100	0.099	137473	11.011 M
PTR	PTR Petratherm Ltd	0.049	0.000	0.000	0.051	0.048	878823	16.692 M
QML	QML QMines Ltd	0.065	-0.001	-1.515	0.065	0.062	43852	24.403 M
RIO	RIO Rio Tinto Ltd	119.380	-0.040	-0.034	121.250	118.600	757457	193,276.576 M
RML	RML Resolution Minerals Ltd	0.002	0.001	33.333	0.002	0.002	50000	3.220 M
SFR	SFR Sandfire Resources NL	10.500	0.070	0.671	10.780	10.440	1718985	4,716.936 M
SPQ	SPQ Superior Resources Ltd	0.007	0.000	0.000	0.007	0.006	370410	15.189 M
SYR	SYR Syrah Resources Ltd	0.300	0.010	3.448	0.305	0.282	3726998	317.711 M
TG1	TG1 Techgen Metals Ltd	0.029	-0.002	-6.452	0.029	0.029	116520	4.760 M
TLM	TLM Talisman Mining Ltd	0.230	0.005	2.222	0.230	0.230	24057	45.197 M
WC8	WC8 Wildcat Resources Ltd	0.305	-0.015	-4.688	0.330	0.300	4193724	399.445 M
XAM	XAM Xanadu Mines Ltd	0.055	-0.002	-3.509	0.058	0.055	2634692	108.109 M
ZIM	ZIM Zimplats Holdings Ltd	15.600	-0.460	-2.864	16.000	15.600	11176	1,820.159 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.