Copper: History Global Price Trends and Uses
Copper is one of the first metals to have been used by humans with evidence of its usage dating back over 10000 years. It’s known for its distinctive reddish color and excellent conductive properties. The ancient Romans sourced copper from Cyprus hence its Latin name ’Cuprum.’
Global Price Trends
Copper prices have experienced considerable fluctuations over the past few decades. The metal saw a significant surge in prices in the early 2000s driven by the rapid industrialization of China. After a dip during the 2008 financial crisis prices rebounded and remained relatively stable until 2020. The global pandemic in 2020 caused a temporary dip followed by a strong recovery as the world economy began to bounce back. As of mid-2023 copper prices remain high due to robust demand especially for green technologies and concerns about supply disruptions.
Copper’s excellent electrical and thermal conductivity make it a key material in the electrical industry where it is used extensively in wiring and electronics. It’s also a critical component in telecommunications and energy infrastructure.
In construction copper is frequently used for roofing plumbing and heating systems due to its durability and corrosion resistance. Copper’s antimicrobial properties also make it useful in medical and sanitary applications.
The move towards renewable energy and electric vehicles is expected to further increase the demand for copper as it’s a crucial material in wind turbines solar panels and batteries.