Commodities
Copper price chart
Copper is an industrial metal used extensively in construction, electrical wiring and electronics, which makes it one of the most closely watched gauges of global manufacturing and infrastructure demand. This chart tracks its US dollar price per pound.
The price shown is a CFD (contract for difference) that tracks the copper futures market, not a COMEX or LME contract itself - a derivative built to follow the underlying price continuously.
Copper chart
OANDA:XCUUSDCFD on copper (OANDA XCUUSD).
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At a glance
| Full name | Copper (grade A cathode) |
|---|---|
| Common ticker | XCU/USD / HG |
| TradingView symbol | OANDA:XCUUSD |
| Instrument type shown | CFD tracking copper futures |
| Underlying market / benchmark | COMEX (CME Group) High Grade Copper futures and the London Metal Exchange (LME) copper contract, the two principal global reference markets |
| Quotation unit | US dollars per pound (this CFD); note that LME copper is quoted in US dollars per metric tonne on the exchange itself |
| Market schedule | Trades close to 24 hours a day, five days a week, with a short daily break; LME trading also includes open-outcry 'ring' sessions |
| Spot vs futures vs CFD | The exchange-listed instruments are futures contracts with set delivery months; the CFD shown here tracks futures pricing continuously |
| Contract month / rollover | COMEX and LME copper contracts have periodic delivery months; continuous charts roll between active months |
| Data delay | Real-time streaming price from the data provider |
What is Copper?
Copper is mined mainly in Chile, Peru, China, the Democratic Republic of Congo and the United States, then refined into cathode used for wiring, plumbing, machinery and electronics. It's one of the most widely used industrial metals because of its strong electrical and thermal conductivity.
Global reference prices are set on the London Metal Exchange (LME), the world's oldest and largest metals exchange, and on COMEX in the US, alongside the Shanghai Futures Exchange (SHFE) in China, the largest consuming market. Because these three markets trade in different hours, currencies and units, traders watch arbitrage between them closely.
How to read this chart
Rising copper prices typically reflect strong construction, manufacturing or electrification-related demand (particularly from China), mine supply disruptions, or falling exchange inventories. Falling prices can reflect weaker industrial demand or rising supply and stockpiles.
Copper is priced on multiple exchanges in different units (LME in US dollars per tonne, COMEX in US cents per pound), so always check which convention a given chart or contract uses; the CFD shown here is in US dollars per pound.
As with other futures-linked commodities, continuous copper charts roll between delivery months, and futures can trade above (contango) or below (backwardation) near-term prices depending on financing costs and near-term supply tightness.
What moves it?
- Chinese construction and grid demand
- China is the largest copper consumer by a wide margin, and its construction activity and electricity grid investment are the biggest swing factors in global copper demand.
- Mine supply disruptions
- Strikes, weather events, ore grade declines and permitting delays at major mines in Chile, Peru and elsewhere can tighten supply quickly, since new mine capacity takes years to develop.
- Electrification and EV demand
- Electric vehicles, charging infrastructure and renewable power generation use substantially more copper than conventional equivalents, adding a structural demand driver beyond traditional construction.
- Exchange inventories
- Visible stock levels held in LME and Shanghai Futures Exchange (SHFE) warehouses are tracked as a real-time proxy for how tight or loose the physical market is.
Why people watch it
Manufacturers, electrical contractors and construction firms use the copper price for input cost budgeting and to inform hedging and procurement decisions.
Because copper demand tracks global industrial activity closely, economists and investors also watch it as a leading indicator of manufacturing and construction trends, sometimes described informally as a barometer of economic health.
Copper vs gold
Copper and gold are both metals but answer to different forces: copper is overwhelmingly an industrial input, so its price tracks global manufacturing, construction and electrification demand, while gold is primarily a monetary and investment asset that responds to real interest rates and the dollar.
The gold-to-copper price ratio is sometimes used informally as a rough gauge of the market's relative preference for safety (gold) versus growth (copper), though it should be read alongside other economic indicators rather than in isolation.
Frequently asked questions
Why is copper called 'Dr Copper'?
It's an informal nickname reflecting the idea that copper demand tracks global industrial and construction activity closely enough to act as an economic indicator, though it isn't a formal metric.
Why do LME and COMEX copper prices sometimes diverge?
They're separate exchanges with different trading hours, delivery locations and warehouse networks, so regional supply and demand imbalances can create temporary price gaps that traders arbitrage.
What unit does this chart use?
US dollars per pound. LME copper is quoted in US dollars per metric tonne on the exchange itself, so conversions are needed when comparing the two.
Does the chart reflect physical copper stocks?
No. It's a CFD tracking futures market pricing; it doesn't represent ownership of physical copper or warehouse inventory.
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Sources
Written and maintained by the StandardsDesk editorial team. Last reviewed 2026-08-06. The text here is deliberately evergreen: it is not rewritten every time the market moves, and no price or level is quoted anywhere outside the chart itself.
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