Copper Price (Global)
The IMF's global benchmark price for copper (grade A cathode, LME spot), in US dollars per metric ton, monthly back to 1992. Copper's nickname — "Dr. Copper, the metal with a PhD in economics" — comes from its use in nearly everything cyclical: construction, grids, electronics, vehicles.
Copper ($/metric ton)
- YoY %
- 38.6%
Latest reading
As of July 2026, Copper (Copper ($/metric ton)) stands at $13,543 — down from $13,552 the prior reading, below the June 2026 record of $13,552. The nominal record is $13,552 (June 2026). In August 2026 dollars the February 2011 peak was higher, at $14,878, so the latest reading ($13,596, July 2026) is 8.6% below the inflation-adjusted record. Copper demand tracks global industrial activity, so the price is read as a real-time growth vote — weak copper with rising bond prices is the classic global-slowdown signal. The electrification and data-center build-out has added a structural demand layer on top of the cycle, which is the bull argument behind the post-2024 run. Note the series is monthly and published with a lag; the futures tape moves daily. Series history runs from 1992 to present.
Sources, methodology & freshnessIMF via FRED (PCOPPUSDM), monthly, US dollars per metric ton, not seasonally adjusted · Monthly, with every releaseData as of 2026-07-01 · Open ↓Close ↑
Full history
Price ($/metric ton)
Year-over-year %
The annual change in the global copper price. Deeply negative YoY readings (2009, 2015, 2020) have coincided with global industrial slowdowns; sustained positive runs with construction and electrification booms.
Real price (August 2026 dollars)
The copper price restated in August 2026 dollars, so every past reading buys the same basket as today.
Deflated by CPI-U (BLS), matched by month; the latest months appear once CPI is published.
Methodology & data
Copper is sourced from IMF via the Federal Reserve's FRED service (IMF via FRED (PCOPPUSDM), monthly, US dollars per metric ton, not seasonally adjusted). We pull the complete history, chart it on a monthly basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date. Latest observation 2026-07-01; site refreshed 2026-10-13. Maintained and reviewed by Yuriy Matso; see our methodology for the standards every series on the site is held to.
Frequently asked questions
What is the Copper Price (Global)?
The IMF's global benchmark price for copper (grade A cathode, LME spot), in US dollars per metric ton, monthly back to 1992. Copper's nickname — "Dr. Copper, the metal with a PhD in economics" — comes from its use in nearly everything cyclical: construction, grids, electronics, vehicles.
How do you read Copper?
Copper demand tracks global industrial activity, so the price is read as a real-time growth vote — weak copper with rising bond prices is the classic global-slowdown signal. The electrification and data-center build-out has added a structural demand layer on top of the cycle, which is the bull argument behind the post-2024 run. Note the series is monthly and published with a lag; the futures tape moves daily.
Where does the Copper data come from?
IMF via FRED (PCOPPUSDM), monthly, US dollars per metric ton, not seasonally adjusted. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/copper-price.csv.
How often is Copper updated?
Copper is a monthly series from IMF, refreshed here as soon as a new release posts to FRED.
Copper ($/metric ton)
- YoY %
- 38.6%