Copper – CY 2023 Price Trend at a Glance

Introduction

Copper prices have a big impact on the world economy. In this blog, we'll look at what happened to copper prices in 2023 and why.


Jan-Mar 2023

At the start of the year, copper prices were all over the place because of protests in Peru, a major copper producer. These protests made copper prices go up by 18% in late 2022. But by early 2023, prices went back to normal and even dropped a bit.

 

Apr-Jun 2023

In the second quarter, copper prices went down. This happened because there wasn't as much demand from China for building materials due to a housing crisis. So, copper prices fell by 5% during this time.

 

Jul-Sep 2023

In the third quarter, the protests in Peru calmed down, so more copper could be made. But because the global economy was still slow and China didn't need as much copper, prices dropped by 1.3%.

 

Oct-Dec 2023

Towards the end of the year, copper prices went up again. This happened because there wasn't as much copper available in China and other places. Even though prices went up, there was still a lot of demand for copper from electric vehicles and renewable energy projects. So, prices went up by 6%.

 

Conclusion

2023 was a wild year for copper prices. They went up and down a lot because of things happening around the world. As we go into the new year, it's important to keep an eye on what's happening with copper prices so we can make smart decisions.


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