Copper is widely used in wiring, buildings and electrical equipment. This chart tracks a perpetual contract referencing copper, not a spot or dated futures price. Funding payments and contract demand can affect its price.
History and development
Copper futures add a market for future prices to the physical chain from mining and refining to wiring and equipment manufacturing. Sellers can manage falling sale prices, while users can manage rising input costs.
COMEX High Grade Copper futures began on July 29, 1988. Their deliverable material is specification-grade electrolytic copper cathode, giving the price a defined quality basis. That date concerns this contract, not the origin of all copper trading. The chart displays a perpetual contract rather than a deliverable COMEX expiry.
References: CME: first trade dates · CME: copper specifications
Comparing charts on this board
Compare copper with gold and oil to contrast industrial activity with defensive-asset pricing. Separate copper-and-oil strength from gold strength with weak copper.
AUD/USD and Caterpillar add currency and machinery perspectives. Isolated copper reactions direct attention to mines and inventories. This chart is a reference contract; pair it with physical-market information.
Related charts: Gold · WTI Oil Perp · AUD / USD · Caterpillar
Official references: CME: copper