Average annual market price of copper 2010-2022

In 2021, the average annual market price of copper peaked at 9,322 U.S. dollars per metric ton, before slightly decreasing in 2022, when its average price was 8,797 U.S. dollars.

Copper consumption

Copper is a base metal that has a wide variety of uses, which makes it an important commodity. In 2020, equipment production accounted for one third of copper consumption, making it the largest global end use of copper. The region with the highest demand for copper as of 2020 was Asia and Australasia, with a total demand of approximately 16 million metric tons of copper. Following Asia and Australasia was Europe, with a total demand of just over three million metric tons.

Copper market prices

The London Metal Exchange and Comex both provide market prices for copper. In 2021, the copper price for the London Metal Exchange was about 420 U.S. cents per pound. The average Comex price in 2021 was estimated to be about 280.29 U.S. cents per pound.