Copper Price in 2004

In 2004, the price of copper averaged $1.30 per pound, up 60.5% from the year before. This page covers the 2004 average, high, low, and year-end close, the events that moved the market, and what that copper would be worth in today's dollars.

2004 Average

$1.30

LME/COMEX annual average, USD/lb

Change vs 2003

+60.5%

from $0.81 in 2003

2004 High

$1.48

from daily trading data

2004 Low

$1.05

from daily trading data

Year-End Close

$1.45

last trading day of 2004

What happened to the copper price in 2004

Copper averaged $1.30 per pound in 2004, surging 60.5% from the $0.81 average of 2003. Annual moves of that size are rare and put 2004 among the most explosive years in the metal's modern history. Daily trading data shows copper moved between a low of $1.05 and a high of $1.48 during the year, ending 2004 at $1.45. The defining story of 2004: China supercycle begins.

The 2000s were defined by the China supercycle. Explosive Chinese urbanization and infrastructure spending quadrupled copper between 2003 and 2006, driving it above $3 a pound, before the 2008 financial crisis produced a devastating crash and a rapid stimulus-fueled recovery.

Adjusted for inflation, copper's 2004 average of $1.30 equals about $2.22 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 2004?

Copper averaged $1.30 per pound in 2004, based on LME and COMEX annual average data. Daily prices ranged from a low of $1.05 to a high of $1.48, and the year closed at $1.45. That average was up 60.5% from $0.81 in 2003.

What is a 2004 copper price worth in today's dollars?

Adjusted with the US Consumer Price Index, copper's 2004 average of $1.30 works out to roughly $2.22 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 2004?

The defining story of 2004: China supercycle begins. Against that backdrop, the annual average climbed 60.5%, from $0.81 in 2003 to $1.30.

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.