Copper was discovered around 8000 B.C. and was one of the first metals to be extracted and used by humans; the metal was first used as coins or a form of currency and ornaments. It was the discovery of this metal plus the incorporation of tin marked the beginning of the Bronze Age at around 3000 B.C.
Copper in its nature is easily stretched, shaped and molded, in addition to that, this metal does not easily corrode and it is a great conductor of heat and electricity making it a versatile material. This in turn makes copper one of the most sought after material as it can be used for both domestic and industrial purposes.
Presently, copper is being used in various ways because of its properties; one of copper’s recent applications includes electrical wiring in different electronic products, it is commonly used in motors and engines of cars and other vehicles. This metal has also anti-microbial properties so it is used in making touch surfaces like door knobs in order to reduce the transfer of germs from one user to another.
As a highly versatile material, it is the third most sought after and widely used metal in the world. With that being said the demand for this metal has increased dramatically for the past 25 years. Although it is highly demanded around the world the risk of disruption in the supply of this metal is highly unlikely because copper production is dispersed and copper can be recycled many times.
Copper in the Market
Copper, with the ticker symbol HG in the market, is extracted from pit mines and Chile and the U.S. have extensive reserves than could be exhausted within the next 50 years. When processing this metal a byproduct called molybdenum is produced this is an element to strengthen steel. Since India and China are the biggest importer of this material, these two countries play an important role in determining when copper reserves will be depleted.
With China as one of the leading countries that has the highest demand for this material; China may shock the market by releasing the some of its stockpiles of the metal. Analysts in China say that the slowing construction of new buildings and the manufacturing of new electronics greatly affect the country’s supply for copper. This country’s consumption for copper has been crucial in its economic growth as the metal forms its essential network its infrastructure.