Copper Price History
Copper – an accurate means for measuring economic health?
Ultimately, there are many factors in play related to the commodities markets; however, the price of copper has historically been linked to gauging the health of the global economy. Market experts say that because copper is not easily replaceable and users cannot substitute for it as easily as they can for other base metals, it really is the metal to watch.
Copper is one of the oldest metals known to man, used for improving societies and cultures since the ancient Egyptians began using it circa 5000 BC to fabricate basic tools, art, and jewelry. As civilization progressed from the Roman period, through the Middle Ages, the Industrial Age, and now into Modern times, the constant in the development of new and better products and technology is copper.
It only takes seconds to realize that even after thousands of years, we are still dependent on copper and copper alloys to improve our society. From electrical wiring, plumbing, computers, air conditioning, refrigeration to automobile components, consumers and manufacturers depend on copper. If society depends so heavily on the supply and demand of copper, can we then evaluate copper - and its price - to diagnose the global economy?