Copper (XCUUSD)

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Copper is a popular used metal, primarily used in highly cyclical industries such as construction and industrial machinery manufacturing. Chile accounts for over one third of the worlds copper production. In contrast with the precious metals, copper is a lower-priced metal. The price of copper could be affected by: US Dollar, Crude Oil prices (copper refining is an energy-intensive process), Geopolitics, Extraction Costs, Chinese demand and weather.

Copper is an essential industrial metal used worldwide. Copper prices are followed in financial markets around the globe and the metal is growing in popularity. Copper is widely used in construction and because of its electrical properties is found in wires and circuit boards. Copper is mined in open mines around the world, with Chile and the United States leading in overall copper production. The demand for copper is increasing as countries such as China and India continue to develop, while the supply remains tight. The growing demand and constrained supply is likely to keep copper prices volatile in the near future. Copper prices are commonly quoted in USD.

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