Copper is once again on everyone's lips – and not without reason. Those who observe the markets see that this metal plays a quite central role when it comes to economic growth. From the construction industry to electronics, renewable energy, and e-mobility: copper is everywhere. Interestingly, the copper price has recently developed quite dynamically in euros and dollars over the past few months – making the topic especially exciting for investors looking to diversify.

Where does the copper price stand currently? That’s a good question. Looking at the development from 2025 to today, it becomes clear: this raw material has gained significant momentum. In early July 2025, copper reached its previous high of about $5.84 per pound – which was roughly $12,875 per ton. This rally was mainly driven by the announcement of US tariffs. Since then, a lot has changed, but the long-term upward trend remains remarkable.

Taking a broader perspective, three clear phases emerge. From 2001 to 2011, it was a wild growth period – China’s entry into the WTO caused massive demand, and the price shot up from $0.68 to over $4 per pound. Then came 2011 to 2016, the bear market: China’s infrastructure investments slowed down, and excess supply pushed prices down. Since 2016, prices have been rising again, supported by fiscal stimuli, low interest rates, and now also trade geopolitics.

What is currently driving the copper price in euros and dollars? Several factors come into play. China is the elephant in the room – the country accounts for about half of global copper demand. When China’s economy is booming, demand increases. Then there are renewable energies: they require about 4 to 12 times more copper than fossil fuels. The IEA estimates that renewables could account for 40 percent of global copper demand by 2040. Electric vehicles are another game-changer – they need around three times more copper than traditional combustion engines.

On the supply side, the amount of production is crucial. An increased supply generally pushes prices down, while scarcity drives them up. Macroeconomically, the dollar exchange rate, interest rate policies, and inflation expectations play a role. A strong dollar makes copper more expensive for foreign buyers – which dampens demand. Conversely, copper benefits from a weaker dollar and high inflation expectations, as it is considered an inflation hedge.

For investors, there are various ways to currently participate in the copper price. Copper futures via the LME or COMEX are classic, but require experience and capital. Simpler are copper ETCs like the WisdomTree Copper ETC – low fees around 0.49 percent p.a., easy to handle. Then there are stocks of mining companies like BHP, Rio Tinto, or Freeport-McMoRan: these benefit disproportionately from price increases, often pay high dividends, but also have higher volatility. CFDs via online brokers offer leverage for short-term speculation but are risky. Physical copper is practically unsuitable for retail investors – storage and transportation quickly become a nightmare.

Active traders should have a strategy. Trend-following is popular – identifying a trend using moving averages and betting on its continuation. Fundamentally oriented traders monitor economic data, especially from China, and position themselves accordingly. Risk management is essential: many recommend that a position should not exceed 5 percent of trading capital, with stop-loss orders at 2 to 3 percent below entry price. And diversification – Bloomberg analysts suggest allocating 4 to 9 percent of a portfolio to commodities as an inflation hedge.

The forecasts from back then (Goldman Sachs predicted $9,980 to $10,050 for 2025, JP Morgan $10,400 to $11,400) are now history. What matters now is the current market dynamics: trade policies, global economic activity, and production capacities determine where it’s headed. The copper price today remains an exciting investment topic – whether as a diversification component in a portfolio or active trading. For many crypto investors, who are already thinking in alternative assets, copper can be an interesting addition to not only be exposed in the digital space.