Copper PriceCopper price in 2020 is, of course, anybody guess. 2018 average copper price was $2.97 per pound. 2019 average copper price was $2.72 per pound.
My guess the average copper price in 2020 may be around $2.8 per pound, slightly below the current level for the following reasons:
Chinese infrastructure building in 2020 is slowing down, which has the bigges copper usage.
Global car industry in 2020 may have zero or negative growth, which is the 2nd biggest copper user.
At the same time, copper investory is very low, which supports copper price
Green energy (solar wind powers) and EV are still a medium and long term story, which have little impact on the copper demand in 2020-2022.
All in all, copper price may rise to $3 per pound, but will drop back due to weak demand, and a uptrend in copper price could not be achieved in 2020. But copper price will be supported due to low inventory. Copper price will likely be traded side way.