Copper prices averaged USD 10,812 per metric ton in November, up 0.7% from October. On 28 November, the commodity traded at USD 11,234 per metric ton, up 3.3% from 31 October.
Copper prices continued to hover around record highs in November. Momentum was driven by structural factors such as booming AI and clean energy demand, plus a weaker U.S. dollar due to expectations of a Federal Reserve rate cut on 10 December. Moreover, supply-side concerns added impetus due to lower Chinese copper production.
This chart displays Copper (US$/mt) from 2023 to 2025.
Copper LME (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Copper LME | - | - | - | 8,176 | 8,447 | 9,748 | 9,210 | 9,180 | 9,336 | 9,508 | 9,814 | - |