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Copper price today — live chart and price per kilogram
Number of products: 0Copper is the odd one out on this site. The London Metal Exchange quotes it in US dollars per tonne under the Grade A copper contract, in lots of 25 tonnes, settled physically. Gold, silver, platinum and palladium are all quoted per troy ounce. Every conversion below starts from the tonne.
Converting the copper price
One tonne is 1,000 kilograms, so the arithmetic is simple once you know which unit you are reading.
| Unit | Conversion from the tonne price | Worked example at USD 9,000 per tonne |
|---|---|---|
| 1 kilogram | tonne price ÷ 1,000 | USD 9.00 |
| 100 grams | tonne price ÷ 10,000 | USD 0.90 |
| 1 pound (avoirdupois) | tonne price ÷ 2,204.62 | USD 4.08 |
| 1 troy ounce | tonne price × 0.0000311035 | USD 0.28 |
The example uses a round USD 9,000 to make the arithmetic visible; substitute the live figure from the chart. The troy-ounce row is included only to show why nobody quotes copper that way — an ounce of copper is worth a few pence.
Why a copper bar does not track this chart
A kilogram of copper is worth a few US dollars of metal. Casting, stamping, packaging and shipping a 1 kg bar costs much the same as it does for a 1 kg silver bar, where the metal underneath is worth hundreds of times more.
So the premium over metal value on a retail copper bar is very large in percentage terms, and the shelf price moves much less than the chart does. If your objective is exposure to the copper price, a physical retail bar is a poor instrument for it. If your objective is to own a physical piece of the metal, that is a different purchase and the premium is what it costs.
What moves the copper price
Copper has no monetary role, so it does not behave like gold. Its price is driven by industrial activity: construction, electrical grid investment, vehicle production, and the manufacturing cycle generally. It is widely used as a barometer of global industrial demand for exactly that reason.
Supply is mine output plus recycling, concentrated in South America and central Africa, and disrupted by the ordinary risks of large-scale mining — grid failures, labour disputes, permitting and ore-grade decline. Inventory levels in LME-registered warehouses are a further short-term influence, since the exchange contract settles physically.
Copper against the precious metals
| Metal | Quoted in | Density | Volume of 1 kg | UK VAT |
|---|---|---|---|---|
| Copper | USD per tonne | 8.96 g/cm³ | 111.6 cm³ | 20% |
| Silver | USD per troy ounce | 10.49 g/cm³ | 95.33 cm³ | 20% |
| Gold | USD per troy ounce | 19.32 g/cm³ | 51.76 cm³ | exempt |
| Platinum | USD per troy ounce | 21.45 g/cm³ | 46.62 cm³ | 20% |
Tax status of copper
Copper is standard-rated for VAT — 20 per cent in the United Kingdom, 23 per cent in Poland. The exemption in VAT Notice 701/21 covers investment gold and nothing else. There is no capital gains relief on copper bars, since the UK exemption follows sterling legal tender. Statement of the published rules, not tax advice.
Questions about the copper price
How do I get the copper price per kilogram?
Divide the quoted tonne price by 1,000. At USD 9,000 per tonne that is USD 9.00 per kilogram.
Why is copper quoted per tonne and gold per ounce?
Because of what each is worth. Copper is an industrial metal traded in 25-tonne lots on the LME; gold is a monetary metal traded in troy ounces. The unit follows the market, not the other way round.
Will a copper bar follow this chart?
Not closely. The manufacturing premium on a retail copper bar is very large relative to the metal value, so the shelf price is far less sensitive to the spot price than a gold or silver bar would be.
Does copper carry VAT?
Yes, at the standard rate — 20 per cent in the UK, 23 per cent in Poland. Only investment gold is exempt.
Related pages
Copper bars · gold price · silver price · platinum price · palladium price.
Buy the metal: gold coins · gold bars · silver coins · silver bars · platinum and palladium · copper bars.
