Copper · Copper Futures

Copper just hit a record high this week, then pulled back about 2% in a few days.

What is going on right now?

The price per pound sits around $6.56, very close to the all-time high of $6.80 reached just days ago. Trading activity has more than doubled its recent average, so a lot more people are paying attention right now.

What drives it?

Copper goes into wiring, pipes, and electronics. When factories and construction projects are busy, demand rises. Reports of a slowdown in China, the world's biggest copper consumer, matter here because less building there can mean less copper needed worldwide.

What stands out?

Over the past year, copper has gained roughly a third of its value, outpacing almost every similar commodity in its group.

What comes next?

The U.S. dollar's strength and China's factory activity numbers are the two things that move copper's price most directly, and both get updated monthly.