Copper Prices

Copper prices averaged USD 9,531 per metric ton in May, up 3.9% from April. On 30 May, the commodity traded at USD 9,548 per metric ton, up 4.7% from 30 April.

Prices rose due to cooling global trade tensions plus supply woes. In mid-May, the U.S. and China agreed to significantly lower their tariffs for 90 days, pending a definitive trade deal. Moreover, a U.S.-UK trade agreement also boosted prices. Ongoing supply concerns have been fueled by disruptions in key producers the Democratic Republic of the Congo and Peru, while U.S. buyers are front-loading copper purchases ahead of expected tariffs.