WHAT IS IT?
Copper is a reddish-orange base metal with the highest electrical conductivity of any non-precious metal. It has been used by humans for over 10,000 years and remains irreplaceable in modern electrical infrastructure.
FORMS TRADED
Copper Cathode (Grade A): 99.99% pure copper sheet, ~125kg each. The primary tradeable form. LME delivery specification.
Copper Wire Rod: Drawn from cathode, 8mm diameter rod. Feedstock for cable and wire manufacturing.
Copper Concentrate: Ore slurry with 20–35% copper content. Traded from miners to smelters.
Copper Scrap: Various grades (Birch/Cliff, Berry, Candy, etc.) reflecting purity levels.
KEY USES
Electrical wiring (largest use — 60% of demand)
Electric motors and generators
Plumbing and HVAC
Roofing and architecture
Electronics and PCBs
Electric vehicles (EVs use 4× more copper than ICE vehicles)
WHY COPPER IS STRATEGIC
Copper is called the metal with a PhD in economics — it tracks global economic activity closely. The energy transition is creating a structural demand surge: solar panels, wind turbines, EV batteries, and grid upgrades all require massive copper inputs.
TRADE CORRIDORS
Major producers: Chile (world's largest), Peru, Congo, China, Australia
Major consumers: China (55% of global demand), USA, Europe
Tetra relevance: LME-priced, traded globally. South Korea and China are major copper processing hubs.
PRICING
Benchmark: LME (London Metal Exchange) Grade A copper. Price per metric tonne. Cash price + premium for specific form (cathode, wire rod) and location.
SPECIFICATIONS (Cathode Grade A)
Copper + silver: 99.99% min
Dimensions: 914×914mm typically
Weight: 110–125kg per cathode
Packed in bundles of 2 tonnes