Copper Price Overview

Copper Cathodes

Like all modern day commodities, the price of copper changes continually and is determined by the sale and purchase of copper cathode futures contracts in regional world markets. The two primary markets for copper futures trading are the London Metals Exchange (LME) and Comex, a division of NYMEX in New York. Copper futures contracts are also traded on the Shanghai Metal Exchange (SHME).

Future’s trading is important to users of copper for price hedging (insurance), and as an investment tool for speculators. Speculation and hedge buying on the future value of copper provide a basis for the current price of copper, also known as spot price or today’s selling price.

The ending price of the day (closing or settlement price) is determined by buyers and sellers of futures contracts of copper cathodes in quantities of 25,000 lb. (one contract on the Comex market). Companies that manufacture copper products typically use the Comex index.

Copper Price History Charts