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Copper is the third most consumed metal in the world. It is also known as a highly conductive material. The properties of copper include good electrical conductivity, excellent thermal conductivity, corrosion resistance, high ductility, recyclability, and non-magnetic properties. The copper market is segmented by end consumer industries (automotive and heavy equipment, construction, electrical and electronics, industrial and other end consumer industries). Recently, the development of electric vehicles has increased the demand for copper. The leaves, stator, rotor, shaft end, hollow wire and motor used in electric vehicles are composed of heavy copper. Major copper producing countries include Chile, Peru and China. Chile produces more than a quarter of the world's copper, and is by far the country with the largest copper reserves. Escondida, located in the Atacama Desert in Northern Chile and owned by mining company BHP, is the largest copper mine in the world by total copper reserves, production capacity and actual copper output.

Despite a Friday stabilization at $4.08 a pound, copper futures were still headed for their worst weekly performance in four months due to ongoing demand concerns and a rising US dollar. Although the finance ministry announced tax benefits for home and land transactions on Wednesday, investors were dissatisfied with Beijing's most recent economic stabilization efforts. To increase copper demand in China, Eagle Metal International, a significant copper importer, stressed the need for more economic stimulus. The demand outlook in the world's largest metals consumer was further clouded by the mixed October GDP statistics from China. Meanwhile, the US dollar continued to rally after Federal Reserve Chair Jerome Powell signaled that the central bank is in no hurry to cut interest rates, citing the strength of the US economy.

Asia-Pacific is expected to dominate the global market as China's construction and power generation sectors are well-developed and continue to invest in the region to achieve advancements in the telecommunications sector. and electronics over the years. The copper market is partially consolidated, with a few large players dominating the majority of the market. Some of the major players (in no particular order) include Glencore, BHP, Codelco, Aurubis AG, and KGHM.