Copper metal is an excellent conductor of electric current and is practically indispensable in the electrical industry for the manufacture of all kinds of wiring and other structural elements. The surge in the price of copper over the past two years makes the copper market price one of the most attractive instruments in terms of investing.
What is the price of copper? At the time of writing, the price of copper ore is $4.2. The cost of copper per pound dropped from over 4-month lows of $4 per pound early in the month. However, the price of copper remained below a record of $4.9 in May.
As with other commodities, the price of copper depends on supply and demand. Accordingly, a decrease in the volume of construction of new buildings can reduce the demand for oil and the copper price per pound. If in any country or region there is a decline in the rate of copper production or production stops altogether, this will also significantly affect the value of copper.
However, copper price fx is considered an important industrial component, and copper grades and prices are correlated with the fluctuations in the global economy and adjustments in demand from the main consuming countries.
Now that we’ve explained the copper meaning, let’s proceed to how you can trade this metal.
Copper live chart
The current price today follows the rules of technical and fundamental analysis very well. Thus, with a copper price graph, it is possible to build trading forecasts with high accuracy. This page displays a copper live chart on the spot market, with the help of which you have the opportunity to monitor the copper price trend and conduct copper analysis.
But what is copper worth? One of the most significant peaks in the fluctuation of the copper price live per pound came in 2008. For the first time, the cost of a ton soared to $8,000. Due to the global crisis, in 2011 the cost of a ton reached its all-time high and reached almost $10,000 per ton. This level is considered to be the all-time high of the copper price today in the entire history of exchange trading.
After that, the copper price today began to gradually decline and fell by half in 2016, stabilizing at $5,000 per tonne. This level, according to the copper bar chart is considered an excellent indicator and entry point for long-term investments to date, and also perfectly shows the cycle of changes in US copper price.
In general, the daily copper price lends itself well to forecasting, when using technical and fundamental analysis of the market, you can make money trading the copper index. The high volatility of the price of copper right now classifies this type of trading as an intraday trade.
With the high volatility and liquidity of the copper commodity price, copper metal can be attributed to an attractive target for scalping and day trading.
However, experienced traders note that due to the sensitivity of the copper trading price to economic statistics, on the days when important releases are published, it is better not to trade the copper metal.
Wondering how to invest in copper or how to buy copper? Copper metal can be traded using several instruments such as futures, options, and CFDs (contract for price difference). We have also listed several reliable forex brokers that provide you the ability to trade copper. On these platforms, traders receive copper news, various data, and advice on hg copper prices.