Commodity
Copper
The international copper price in dollars per tonne. Because copper feeds construction, wiring, and electric vehicles alike, it is a classic cyclical read on manufacturing activity and Chinese demand.
Copper latest observations
- Observed
- 2026-10-28
- Latest
- 6.66 USD/mt
- Change from previous
- ▲ +0.04 USD/mt
Check the observation dates in both the summary and chart; release and refresh times can differ.
At a glance
Copper: latest value and prior change
As of 2026-10-27, Copper is 6.54 USD/mt. It is 0.04 USD/mt higher than 6.51 USD/mt on 2026-10-26.
Across 713 available observations from 2024-01-02 to 2026-10-27, the latest value is at the tie-adjusted 13th percentile.
- Observed on
- Default comparison window
- 2024-01-02–2026-10-27
- Observations · observed cadence
- 713 · Daily
- Data source
- FRED
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
2026-08-05 → 2026-10-27 · USD/mt
- First
- 6.70 USD/mt
- 2026-08-05
- Latest
- 6.54 USD/mt
- 2026-10-27
- Window low
- 6.33 USD/mt
- 2026-09-14
- Window high
- 6.80 USD/mt
- 2026-09-09
The horizontal axis follows observation order; calendar intervals may differ. High and low refer to observed values within this window, not intraday or all-time extremes. Ties show the first observation date.
Time-series chart
Copper
2024-01-02–2026-10-27
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Recent observations and calculated changes
The ten latest chart observations. Change subtracts the previous observation; intervals vary with holidays, release schedules and missing data. A difference in rates or ratios is not an investment return.
| Observed | Value | Previous date | Difference (current − previous) |
|---|---|---|---|
| 2026-10-27 | 6.54 USD/mt | 2026-10-26 | 0.04 USD/mt |
| 2026-10-26 | 6.51 USD/mt | 2026-10-23 | 0.03 USD/mt |
| 2026-10-23 | 6.48 USD/mt | 2026-10-22 | 0.11 USD/mt |
| 2026-10-22 | 6.36 USD/mt | 2026-10-21 | -0.18 USD/mt |
| 2026-10-21 | 6.54 USD/mt | 2026-10-20 | -0.02 USD/mt |
| 2026-10-20 | 6.57 USD/mt | 2026-10-19 | 0.03 USD/mt |
| 2026-10-19 | 6.54 USD/mt | 2026-10-16 | 0.01 USD/mt |
| 2026-10-16 | 6.53 USD/mt | 2026-10-15 | 0.02 USD/mt |
| 2026-10-15 | 6.51 USD/mt | 2026-10-14 | -0.10 USD/mt |
| 2026-10-14 | 6.61 USD/mt | 2026-10-13 | -0.07 USD/mt |
Source: FRED
Interpretation guide
Copper futures: putting Dr. Copper's diagnosis to work
This series tracks copper futures priced in U.S. cents per pound. Used across construction, power grids, machinery, and electronics, copper earned the nickname Dr. Copper for anticipating the global cycle, and electrification demand from EVs and grid buildouts has now joined the long-term drivers.
Its credentials as a leading indicator
Copper is hard to stockpile for long and its demand base spans the real economy, so its price trend often front-runs manufacturing conditions. The caveat is China, which absorbs roughly half of global copper demand, making its property and infrastructure cycle the dominant swing factor.
- A sustained copper uptrend confirmed by improving manufacturing data strengthens the recovery signal.
- Rallies built purely on Chinese stimulus hopes should not count as leading evidence until hard data follows.
- If copper rises but gold rises faster, pushing the gold-silver ratio up, hold off on a risk-on conclusion.
Separating supply events from demand signals
Copper supply is concentrated in a handful of giant mines, so strikes, declining ore grades, or concentrate disruptions can spike the price on their own. Mistaking a supply-driven rally for a demand recovery is the most common error in reading this market.
- On sharp rallies, first check for mine-strike or smelter-outage headlines before inferring demand.
- Rising prices with building exchange inventories hint at speculation; falling inventories point to real use.
- Copper and WTI rising together is worth examining as a demand-pull inflation regime.
The view from an export manufacturer
Copper is a core input for Korean cable, electrical-equipment, and machinery makers, so a price surge squeezes their costs. Yet if copper strength reflects a global capex recovery, it can be a demand tailwind for Korean exporters overall, so the market impact depends on the cause.
- Copper trending up alongside KOSPI foreign net buying is a supportive mix for cyclical exporters.
- Note the unit: this series is quoted in cents per pound, so its scale differs from LME dollars per tonne.
- A weaker won compounds input costs for domestic users, so check USD/KRW alongside this series.
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