Copper, whose symbol is Cu, is the chemical element with atomic number 29. It is a transition metal of reddish color and brightness, thanks to its high electrical conductivity, ductility and malleability. Greater use is in the mechanics due to their chemical, electrical and thermal properties. Used in electricity in obtaining windings lightning rods and wires. The main commercial forms are tubes and wires of different diameters and thicknesses.
It has become the most widely used material for manufacturing electrical wires and other electrical and electronic components. Copper has several physical properties that encourage industry use in multiple applications, being the third metal, after iron and aluminum, most commonly consumed in the world. It is reddish in color and metallic luster and, after the silver, is the element with the highest electrical and thermal conductivity. It is a material abundant in nature; It has an affordable price and is recycled indefinitely; Forms alloys for improved performance mechanical and is resistant to corrosion and oxidation. Copper is the third most used metal in the world, behind iron and aluminum. Chile was the first country producer and exporter of copper globally. And the first China consume this metal currently.
As copper is marketed worldwide as raw material, your quote is performed in the the London Metals Exchange. Speaking candidly brokerage firm told us the story. The London Metals Exchange provides the global forum for all those who wish to manage the risk of future movements in the price in metals and non-ferrous metals plastics. Material traded on the LME, which meets rigorous quality standards, is deposited in warehouses approved around the world so that the material can change hands but in reality most of the contracts are carried out without that to happen. The prices published on the LME are considered as a true representation of supply and demand by the commercial and industrial sector around the world.