Copper Price in 1971

In 1971, the price of copper averaged $0.52 per pound at the start of the modern price series. This page covers the 1971 average, high, low, and year-end close, the events that moved the market, and what that copper would be worth in today's dollars.

1971 Average

$0.52

LME/COMEX annual average, USD/lb

What happened to the copper price in 1971

Copper averaged $0.52 per pound in 1971, according to LME and COMEX annual average data. This is the first year in the modern copper series, with the metal averaging about $0.52 a pound as the Nixon Shock ended the Bretton Woods system and ushered in a decade of commodity volatility. The notable development of 1971: Nixon ends gold standard; commodity volatility.

Copper spent the 1970s buffeted by the decade's twin oil crises and inflation. Priced near $0.52 a pound in 1971, it swung sharply with the 1973-74 commodity boom and the recession that followed, closing the decade around $0.90.

Adjusted for inflation, copper's 1971 average of $0.52 equals about $4.14 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

Frequently Asked Questions

What was the price of copper in 1971?

Copper averaged $0.52 per pound in 1971, based on LME and COMEX annual average data.

What is a 1971 copper price worth in today's dollars?

Adjusted with the US Consumer Price Index, copper's 1971 average of $0.52 works out to roughly $4.14 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the copper price in 1971?

The defining story of 1971: Nixon ends gold standard; commodity volatility. This is the first year in the modern copper series, with the metal averaging about $0.52 a pound as the Nixon Shock ended the Bretton Woods system and ushered in a decade of commodity volatility.

Annual averages are LME and COMEX copper prices per pound in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.