Copper is commonly known as”Dr Copper” because it can act as a key indicator on the health of the global economy. This is due to the pervasive use of the commodity throughout manufacturing, construction and infrastructure.
The copper price peaked in 2011 driven by China’s economic stimulus and has been declining ever since. AUDUSD has a high level of correlation with copper as well as commodity companies with large portion of earnings from Copper mining and concentrates sale. For example, Rio share price peaked at the same time (although it has just as much Iron ore exposure as well).
Copper Spot Price History
Market convention is to quote price of copper per pound and in USD.
Copper Price Per kg
Pound to Kilo conversion ratio is 2.20462
Copper Price Per Tonne
Pound to Tonne conversion ratio is 2204.62