Copper prices have lifted since January’s report. Still off of its 2018 June peak of $3.35, copper prices did lift from January’s $2.57 to a current price of $2.77 (a 7.7% increase month-over-month). The low decade low was set in 2015/2016 when the price per pound was generally under $2.00. The 10-year high was set in 2011 at $4.50/lb.
Norway has approved a new mine project in the Kvalsund area, a region that contains Norway’s largest reserve of copper ore at an estimated 79 million tons. The project is expected to start this summer.