A copper cargo is priced eight times before anyone looks at a screen. Here is the lifecycle of a concentrate parcel, and why the assay lab decides more of the P&L than the trading desk.
There is copper in the wall behind you. There is more of it in an electric car than in a petrol one, and more again in the grid that charges it. In September 2026 it trades around $6.57 a pound, roughly $14,500 a tonne, up about 46% on the year, having set an all-time high in August.
That number is the last thing that happens to a copper cargo. Not the first.
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Anish has spent 12+ years inside commodity trading floors delivering ETRM and trading systems, from front-office deal capture to the post-go-live months where implementations are won or lost. He writes The Trading Narrative for the practitioners who run those desks: traders, delivery leads, and the professionals in between.
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