Just like any asset, there are many factors that influence the price of Copper. Copper is a well-known metal that’s used in several different industries worldwide. Copper has been a very vital metal in human history for over 10,000 years. This metal is used in countless different industries, including power generation, transmission, electricity, construction, and much more. Due to its diverse importance in several different industries, copper’s value relies heavily on the global economy. A rise in copper prices corresponds with strong economic health. 

Since its discovery several centuries ago, copper has played an incredibly important role in human history. It’s been used as currency and ornaments and continues to be used in countless different important industries around the world. Copper is a vital precious metal that we simply cannot live without. The metal will always be in constant demand for several different industries. With a stable and continuously growing demand for copper, the metal continues to grow in value as well. Because it is used in such a widespread set of industries, copper will always have a stable demand around the world. With this strong, stable demand, investors view copper as a reliable and low-risk metal. As copper’s demand continues to outweigh its production, there is no doubt copper is a risk-free investment that’ll protect your wealth from market crashes. 

Global Copper Consumption

China and Japan are the world’s largest copper ore consumers. China is also the raw copper’s largest consumer as well. Chile and Peru are the largest copper ore exporters and Zambia is the world’s largest exporter of raw copper. Copper plays an incredibly important role in several industries, specifically as the best non-precious metal conductor of electricity. Its physical properties have allowed it to become one of the key components of electronics and the electrical industry. Copper is also widely used in construction, piping, wiring, industrial machinery, vehicles, coins, and as decorative pieces. 

This metal is also much cheaper than other precious metals, such as gold and silver. Aside from being a highly stable and reliable asset, copper is a very low-risk investment as metal has a much lower price than other precious metals. As one of the most highly consumed metals in the world, the performance of these industries and the global economic health plays a very important role in the price of Copper.