Why is Copper Spot important to traders?
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Learn more about Copper SpotSpread | 0.00272 | ||||||||
Long position overnight fee
Long position overnight fee
Go to platform | -0.018926% | ||||||||
Short position overnight fee
Short position overnight fee
Go to platform | -0.002994% | ||||||||
Overnight fee time | 22:00 (UTC) | ||||||||
Min traded quantity | 10 | ||||||||
Currency | USD | ||||||||
Margin | 1% | ||||||||
Stock exchange | United States of America | ||||||||
Commission on trade | 0% |
*Information provided by Capital.com
Date | Close | Change | Change (%) | Open | High | Low |
---|---|---|---|---|---|---|
Nov 28, 2023 | 3.79825 | -0.00246 | -0.06% | 3.80071 | 3.80923 | 3.79574 |
Nov 27, 2023 | 3.80070 | -0.03019 | -0.79% | 3.83089 | 3.83791 | 3.79360 |
Nov 26, 2023 | 3.83139 | 0.00177 | 0.05% | 3.82962 | 3.83963 | 3.82687 |
Nov 24, 2023 | 3.83306 | 0.01399 | 0.37% | 3.81907 | 3.83583 | 3.79591 |
Nov 23, 2023 | 3.81883 | 0.01291 | 0.34% | 3.80592 | 3.84201 | 3.80220 |
Nov 22, 2023 | 3.80594 | -0.03481 | -0.91% | 3.84075 | 3.84235 | 3.77873 |
Nov 21, 2023 | 3.84051 | 0.00592 | 0.15% | 3.83459 | 3.85718 | 3.82059 |
Nov 20, 2023 | 3.83461 | 0.07260 | 1.93% | 3.76201 | 3.84004 | 3.75437 |
Nov 19, 2023 | 3.76199 | -0.00131 | -0.03% | 3.76330 | 3.76477 | 3.76151 |
Nov 17, 2023 | 3.76400 | 0.03995 | 1.07% | 3.72405 | 3.76901 | 3.70764 |
Nov 16, 2023 | 3.72377 | -0.02321 | -0.62% | 3.74698 | 3.77138 | 3.71525 |
Nov 15, 2023 | 3.74676 | 0.03733 | 1.01% | 3.70943 | 3.75410 | 3.70218 |
Nov 14, 2023 | 3.70950 | 0.00907 | 0.25% | 3.70043 | 3.74641 | 3.67839 |
Nov 13, 2023 | 3.70046 | 0.06893 | 1.90% | 3.63153 | 3.70093 | 3.61778 |
Nov 12, 2023 | 3.63157 | 0.00183 | 0.05% | 3.62974 | 3.63305 | 3.62899 |
Nov 10, 2023 | 3.62884 | -0.03536 | -0.97% | 3.66420 | 3.67746 | 3.61735 |
Nov 9, 2023 | 3.66395 | -0.00424 | -0.12% | 3.66819 | 3.69458 | 3.64789 |
Nov 8, 2023 | 3.66798 | -0.04546 | -1.22% | 3.71344 | 3.73330 | 3.66497 |
Nov 7, 2023 | 3.71324 | -0.02402 | -0.64% | 3.73726 | 3.73858 | 3.67917 |
Nov 6, 2023 | 3.73776 | 0.04317 | 1.17% | 3.69459 | 3.75098 | 3.69328 |
Calculate your hypothetical P&L if you had opened a CFD trade on a certain date (select a date) and closed on a different date (select a date).
Copper is a unique commodity that has a distinctive value in the global market due to its industrial worth. Today, it is the world’s third-most-used metal, after iron and aluminium, and plays a pivotal role in all major economies and the developing world. Its utility coupled with a low price makes copper a low-risk investment favoured by international investors. Trading copper offers substantial asset-class diversification, which can be an effective way to lower the overall volatility of a portfolio.
According to the historical copper price graph, the metal reached its record high of $4.63 in February 2011.
Join Capital.com to be on top of the latest copper rate.
Copper is one of the most versatile metals available today. It has a high electrical conductivity, second only to silver, making it a very attractive material for various industrial applications, including wiring, plumbing, motors, generators, transformers, computers, cars, heating and cooling systems.
Due to its versatility and importance for many industries, the global demand for copper has been continuously growing over the past few decades. More than 60 per cent of overall copper consumption occurs in Asia. China, with its huge manufacturing sector, is by far the biggest consumer of the metal in the world.
In 2018, the worldwide consumption of copper reached 23.6 million tons a year and is expected to hit 29.8 million tons by 2027. While the recycling of old copper helps meet about 45 per cent of global needs, rapidly increasing consumption requires continued development of new metal resources.
With regard to supply, copper mining is mainly concentrated in Latin America. Chile is the world’s largest copper miner, producing more than 5.8 million tons of metal annually. The figure is more than double the amount of that of the second-highest producer, Peru, which supplies more than 2.4 million tons of copper per year.
As the metal is a key material in the construction industry as well as for consumer goods such as electronics and cars, copper demand tends to be economically sensitive. As such, when the global economy slows down, the demand for the metal usually decreases, negatively weighing on its pricing. Therefore, when making investment decisions, it is important to consider that the price of copper significantly relies on the wider performance of the global economy.
With Capital.com’s comprehensive copper chart you can quickly find the latest copper spot price and trace the historical value of the metal over the years.
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