Copper

Copper Market

The copper market is a dynamic arena shaped by global demand, economic indicators, and geopolitical factors. As one of the most widely used metals, copper serves as a vital component in industries ranging from construction and infrastructure to electronics and renewable energy. Its conductivity, durability, and corrosion resistance make it indispensable in modern society.

Market trends are often influenced by the growth of emerging economies, particularly in sectors like construction and manufacturing, which drive demand for copper. Additionally, technological advancements and the transition to greener energy sources have spurred increased usage of copper in electric vehicles, renewable energy infrastructure, and grid modernization projects.

Supply dynamics play a significant role in shaping the copper market. Major producers like Peru dominate global production, “Peru, the second-largest producer, at 2.2 MMt in 2022, has the third-largest reserves behind Australia” (S&P Global Market Intelligence 2023)

With Copper’s recent surge to over $10,000 per tonne, Copper is starting to attract the attention of investors as investment firms like Blackrock stating that the “world’s mines will struggle to meet a coming wave of demand from green industries.” (Bloomberg 2024)