Copper and Crude oil

Their prices have moved together.

Copper (commodity) and Crude oil (energy): 1 relationship.

How they are linked

1. Price link: common driver

Cost and price · Strong · Both ways

Oil and copper both respond to world growth, the US dollar and investor risk appetite, and diesel is a large mining cost. Monthly changes correlate at 0.47 and yearly at 0.70, but only 0.07 in the last five years as their drivers diverged.

• 0.47 monthly change correlation
• 0.70 12-month change correlation
• 0.50 fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.