Copper Price History
Copper earned its "Dr. Copper" nickname by reliably forecasting economic turning points. From the China supercycle to the AI and EV demand surge, copper's price history tracks the pulse of the global economy.
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Copper Price by Year (1971–2025)
LME/COMEX annual average price per pound in USD
| Year | Avg Price (USD/lb) | YoY Change | |
|---|---|---|---|
| 1970s — Oil Crises & Inflation | |||
| 1971 Nixon ends gold standard; commodity volatility | $0.52 | — | |
| 1972 | $0.51 | -1.9% | |
| 1973 First oil crisis; commodity boom | $0.81 | +58.8% | |
| 1974 | $0.93 | +14.8% | |
| 1975 Recession hits industrial demand | $0.56 | -39.8% | |
| 1976 | $0.64 | +14.3% | |
| 1977 | $0.59 | -7.8% | |
| 1978 | $0.62 | +5.1% | |
| 1979 Second oil crisis; Iran revolution | $0.90 | +45.2% | |
| 1980s — Volcker Era & Latin American Debt | |||
| 1980 Inflation peak; Volcker rate hikes | $0.99 | +10.0% | |
| 1981 | $0.79 | -20.2% | |
| 1982 Deep recession; Latin American debt crisis | $0.67 | -15.2% | |
| 1983 | $0.72 | +7.5% | |
| 1984 | $0.63 | -12.5% | |
| 1985 | $0.64 | +1.6% | |
| 1986 | $0.62 | -3.1% | |
| 1987 Economic recovery; Black Monday | $0.81 | +30.6% | |
| 1988 Strong global demand | $1.18 | +45.7% | |
| 1989 | $1.29 | +9.3% | |
| 1990s — Post-Cold War & Asian Crisis | |||
| 1990 Gulf War; mild recession | $1.21 | -6.2% | |
| 1991 | $1.06 | -12.4% | |
| 1992 | $1.04 | -1.9% | |
| 1993 | $0.87 | -16.3% | |
| 1994 | $1.05 | +20.7% | |
| 1995 | $1.33 | +26.7% | |
| 1996 | $1.04 | -21.8% | |
| 1997 Asian financial crisis | $1.03 | -1.0% | |
| 1998 Russian default; LTCM collapse | $0.75 | -27.2% | |
| 1999 Copper near 12-year low | $0.71 | -5.3% | |
| 2000s — China Supercycle & Financial Crisis | |||
| 2000 | $0.82 | +15.5% | |
| 2001 Dot-com bust; 9/11 | $0.72 | -12.2% | |
| 2002 | $0.71 | -1.4% | |
| 2003 China demand accelerates | $0.81 | +14.1% | |
| 2004 China supercycle begins | $1.30 | +60.5% | |
| 2005 | $1.67 | +28.5% | |
| 2006 Record prices; China infrastructure boom | $3.05 | +82.6% | |
| 2007 Continued strong demand | $3.23 | +5.9% | |
| 2008 Financial crisis; crash from $4 to $1.25 | $3.15 | -2.5% | |
| 2009 Recovery begins; China stimulus | $2.34 | -25.7% | |
| 2010s — Recovery, Slowdown & Trade Wars | |||
| 2010 Post-crisis rebound | $3.42 | +46.2% | |
| 2011 Copper near all-time high at $4.65/lb | $4.00 | +17.0% | |
| 2012 | $3.61 | -9.8% | |
| 2013 China growth slows | $3.32 | -8.0% | |
| 2014 | $3.11 | -6.3% | |
| 2015 China slowdown fears; commodity rout | $2.49 | -19.9% | |
| 2016 Copper at 7-year low | $2.21 | -11.2% | |
| 2017 Global recovery; EV buzz begins | $2.80 | +26.7% | |
| 2018 U.S.-China trade war begins | $2.96 | +5.7% | |
| 2019 Trade war escalation | $2.72 | -8.1% | |
| 2020s — Pandemic, Green Transition & AI Demand | |||
| 2020 COVID crash to $2.10; V-shaped recovery | $2.80 | +2.9% | |
| 2021 Post-COVID boom; supply disruptions | $4.23 | +51.1% | |
| 2022 Fed hikes; China lockdowns | $3.99 | -5.7% | |
| 2023 Steady demand; mine supply tight | $3.85 | -3.5% | |
| 2024 EV + AI demand surge; new ATH at $5.20/lb | $4.35 | +13.0% | |
| 2025 Green energy buildout accelerates | $4.50 | +3.4% | |
24h Change
24h Range
Bid / Ask
All-Time High
Copper Price Through the Decades
Copper is the world's most important industrial metal, essential to construction, electrical wiring, electronics, and increasingly to electric vehicles and renewable energy infrastructure. Nicknamed "Dr. Copper" for its ability to predict economic turning points, copper prices closely track global GDP growth, manufacturing activity, and infrastructure investment. China alone consumes over 50% of the world's refined copper, making Chinese economic data the single most important driver of copper prices.
The China supercycle of the 2000s transformed copper into a globally watched asset. Between 2003 and 2006, copper prices quadrupled as China's urbanization and infrastructure buildout created unprecedented demand.
The 2008 financial crisis produced a devastating 69% crash, but copper's subsequent recovery was equally dramatic. Massive Chinese fiscal stimulus and global quantitative easing drove prices to a new all-time high of $4.65 per pound by February 2011.
The 2020 pandemic crash was another defining chapter. Copper plunged to $2.10 per pound in March 2020 as global lockdowns halted construction and manufacturing. The recovery was the fastest in copper market history, fueled by unprecedented government stimulus, supply disruptions at South American mines, and a dawning recognition of the green energy demand thesis.
Industry analysts now project a structural supply gap. Demand from electric vehicles, solar installations, wind farms, grid modernization, and AI data centers is forecast to far exceed the pace of new mine development. Average copper ore grades have been declining for decades. New mine permitting takes 10-15 years. The world's largest producing regions in Chile and Peru face increasing water scarcity, environmental regulation, and community opposition. These supply constraints underpin the bullish long-term case for copper prices.
Data provided by MetalCharts, a free precious metals tracking platform offering real-time prices, interactive charts, historical data, and portfolio tools for gold, silver, platinum, palladium, and copper. Prices sourced from major global exchanges including COMEX, LBMA, and LME, updated continuously during market hours.
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