Current Copper Prices

Copper

Copper is a chemical element with the symbol Cu (from Latin: cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. Copper is a reddish-gold colored metal that is ductile, malleable, and an effective conductor of heat and electricity. Copper was the first metal to be worked with by humans and is among the most widely used metals today. Before 1983, pennies were 95 percent copper. Today, they're almost entirely zinc (a less expensive metal), coated with a thin copper plating. They look the same, but the older coins are quite a bit heavier. Copper is a good conductor of heat and electricity, which is why it's used for both fancy cookware and wires.

Copper Origin And Distribution

Most copper is mined or extracted as copper sulfides from large open pit mines in porphyry copper deposits that contain 0.4 to 1.0% copper. Copper metal does occur naturally, but by far the greatest source is in minerals such as chalcopyrite and bornite. Copper is obtained from these ores and minerals by smelting, leaching and electrolysis.

Copper Uses

Most copper is used in electrical equipment such as wiring and motors. This is because it conducts both heat and electricity very well, and can be drawn into wires. Copper is a good choice for kitchen sink because it is generally resistant to corrosion and it has anti-microbial properties. Copper is also a good material for accessories. Even in the ancient times, those who can’t afford gold jewelry wear copper jewelry instead. Copper alloys are also valued for their acoustic quality, especially brass, an alloy of copper and zinc.

Top Copper Producing Countries

Following are the major copper producing countries in the world:

1.       Chile
2.       Peru
3.       China
4.       Congo
5.       United States

Top copper importing countries

1.       China
2.       Japan
3.       European Union
4.       Korea, Rep
5.       Germany
6.       Spain
7.       India
8.       Bulgaria

Primary Copper Production

In 2021, Peru produced 2.2 million metric tons of copper. The ten leading countries in world copper production as of 2021 were Chile, Peru, China, the Democratic Republic of the Congo, the United States, Australia, Zambia, Russia, Mexico, and Canada.

Copper Trading

Copper futures are widely traded on the London Metal Exchange (LME), at the COMEX and on the Multi-Commodity Exchange in India. The standard contract is 25,000 lbs. Copper is the third most widely used metal in the world.

Useful information on copper

•        Copper Development Association : https://www.copper.org/
•        International Copper Study Group : https://copperalliance.org/
•        U.S. Geological Survey : https://www.usgs.gov/