What is the current copper price?

(Kitco News) - The price of copper, currently trading near $3.50 per pound, could skyrocket to "$6 or $8" on the back of heightened demand, said Rob McEwen, Chairman of McEwen Mining. "The world wants to electrify the energy transition," said McEwen.

What factors affect the price of copper?

There are a few key influences when it comes to copper prices. It’s not a simple science, and predictions can only go so far. The major factors contributing to copper prices are supply and demand, economic growth, inflation, and the value of the dollar. As with most investments, supply and demand dictates in large part how copper prices move.

What is the history of copper prices?

Although copper is down 20 percent year-to-date, its price has risen 20 percent over the past five years. In the late nineties, copper traded below $1 per pound, more than half its present-day value. "You had rapid urbanization taking place in Asia," said McEwen, explaining the price increases.