11
• In 2023 the copper spot price was on average 4% less
than it was in 2022, equating to about $0.15 per pound.
• While there was an overall year-over-year decrease
in the price of copper, this was not the trend for
each quarter.
› Q1 and Q2 saw year-over-year decreases of 10%
and 11%
› Q3 and Q4 saw year-over-year increases of 8%
and 1%
• The day-to-day pricing of copper has been stable, on
average fluctuating plus or minus $0.18. Q3 and Q4
were particularly stable months with the average price
of copper fluctuating only 2% and 3%.
Potential Impact
The price of copper has been relatively stable in 2023, yet the price still dropped by about 4% in
the second half of 2023, which could indicate that there is simply less demand for copper. This
would make sense given the overall decrease in project starts, contract values and the fact that
most contractors continue to hold onto cash.
Copper
Pricing Trends
Construction Metric Index
Copper pricing across the
industry decreased 4%
year-over-year
4%
Construction Activity Index - Q3 & Q4 2023 ©Trimble Viewpoint, Inc. All Rights Reserved.
