Current copper prices and major value drivers
The copper market has three main centres of activity: the London Metal Exchange (LME), which provides the global benchmark; the Shanghai Futures Exchange (SHFE), which represents the market in China; and the Chicago Mercantile Exchange (CME), which represents the US market.
Copper prices have more than doubled since the lows of March 2020 at the start of the global COVID-19 pandemic, outperforming the S&P 500 (US500) and NASDAQ-100 (US100) stock market indices. The benchmark LME three-month copper price bottomed at $4,626.50 a tonne on 23 March 2020 and reached a record high of $10,720 a tonne on 10 May, data shows. It has since been trading in the $9,000–$10,000 a tonne range.
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