Copper Prices

Copper prices averaged USD 12,951 per metric ton in February, down 0.3% from January. On 27 February, the commodity traded at USD 13,294 per metric ton, up 1.7% from 30 January.

Average copper prices fell in February, snapping a six-month upward trend. At the start of the month, a stronger U.S. dollar—driven by President Trump’s nomination of Kevin Warsh as the next Fed chair—weighed on the metal’s value. Then, seasonal demand softened due to the Lunar New Year, adding to the downward pressure. Still, prices remained close to record highs, driven by robust demand prospects linked to investment in power grids, renewable energy and data centers.