Copper Prices

Copper prices averaged USD 9,736 per metric ton in March, up 4.3% from February. On 31 March, the commodity traded at USD 9,659 per metric ton, up 3.4% from 28 February.

The threat of U.S. tariffs continued to dominate the copper market in March. The spread between copper prices in the American exchange CME and the LME widened further as a higher likelihood of U.S. duties on imports of the metal drove U.S. prices to an all-time high. This spurred fears of tighter supplies outside the U.S, thus boosting LME prices. Supply disruptions in top producer Chile plus stronger manufacturing activity and stimulus announcements in China in March also boosted prices.