Copper Price Per Metric Tonne Today

The copper price per metric tonne is the standard quoting convention for international copper trade. The London Metal Exchange (LME), the world's largest industrial metals marketplace, quotes copper in US dollars per metric tonne. One metric tonne equals 1,000 kilograms or approximately 2,204.62 pounds. This per-tonne convention is used by mining companies, smelters, fabricators, and traders outside North America for physical supply contracts, concentrate agreements, and cathode sales. When copper is quoted at $9,500 per tonne, that translates to roughly $4.31 per pound on COMEX.

Converting between COMEX per-pound and LME per-tonne pricing is straightforward. COMEX copper (HG) is quoted in US cents per pound. To convert to a per-tonne price, multiply the per-pound price in dollars by 2,204.62. For example, copper at $4.50 per pound equals $9,920.79 per tonne. Going the other way, divide the per-tonne price by 2,204.62 to get the per-pound equivalent. Our chart above automatically applies this conversion, displaying real-time COMEX copper data expressed in dollars per metric tonne.

Per-tonne pricing dominates international copper trade. Copper concentrate contracts between mines and smelters are negotiated using LME per-tonne benchmarks with treatment and refining charges (TC/RCs) deducted. Refined cathode sales reference the LME cash settlement price per tonne. Even the Shanghai Futures Exchange (SHFE) quotes copper in Chinese yuan per tonne. The only major market using per-pound pricing is COMEX, which caters primarily to North American participants. Understanding per-tonne pricing is essential for anyone involved in global copper markets.

The Shanghai Futures Exchange (SHFE) also quotes copper per tonne in Chinese yuan, providing a third major benchmark alongside LME and COMEX. Since China consumes over 50% of global copper, the SHFE copper price carries significant weight. The SHFE-LME price differential reflects Chinese import demand, tariffs, VAT (13%), and local supply conditions. When the SHFE premium over LME widens, it signals strong Chinese demand and encourages copper imports into China, supporting global prices.

Several factors influence the per-tonne copper price. Global copper mine production of approximately 22 million tonnes per year must meet demand from construction (28%), electrical infrastructure (28%), industrial machinery (12%), transportation (12%), and consumer products (10%). The energy transition is adding substantial new demand, with each electric vehicle requiring 53-83 kg of copper versus 23 kg in a conventional car. Renewable energy installations, grid upgrades, and data centers for AI are projected to create a structural supply deficit, with some analysts forecasting copper prices above $12,000 per tonne by the end of the decade.