It makes little difference if you’re making an ancient arrowhead, laying an underground telecommunications cable or shaping a newly minted coin, if you’re doing any of those things, odds are you’re doing them with Copper, which should already give you some indication of how popular and useful it is.
Copper has been in use for thousands of years, with early uses recorded as far back as 8,700 BC, and possibly earlier, it has been in use in all corners of the globe – from West Africa to China and from Europe to south America.
With uses ranging from weaponry to jewelry and even medicine in ancient times, Copper was relatively easy to mine and subsequently shape into whatever was required, which made it extremely popular and helped increase demand for it.
These days, the biggest Copper mines operate in Chile, Peru, Indonesia and the US, though smaller amounts are still mined elsewhere around the globe.
The biggest issue surrounding the global Copper market, and therefor affecting anyone trading in it or its options is the overall quantity of Copper remaining throughout our planet before it runs out permanently.
Within the last couple of decades both India and China have been gradually turning into far more industrialized countries, which has resulted in massive growth in both, however, it has also resulted in a substantial increase in the consumption of Copper within those countries, causing a steady decline in the sheer amount of Copper available and stockpiled and an increase in the amount needed annually to satisfy those to nations.
Experts vary in opinion, but most seems to agree that if current consumption levels remain, the world supply of Copper will run out within the next century, at most, with a few claiming that supplies may run out in as little as 25-30 years.
But while it may slowly vanishing from the planet, and while scientists search for a metal or alloy with similar qualities and effects, there is no debate about the sheer amount of uses Copper has in our modern world, which in turn has a natural impact on prices.
Copper is used in anything from computer circuits to microwaves, to piping in houses to wiring in power and telecoms and many other uses in between.
When approaching trades in Copper binary options here are some of the things a trader should be keenly aware of:
The primary factor and most obvious one is global or country specific consumption – we have previously mentioned the development of both India and China, the pure amount of humanity in those nations is such that any rise in something seemingly harmless as housing prices may have an effect on the price of Copper.
Why you ask? Simple – houses require plumbing which uses, at least to some degree – Copper, Those same houses also need to be connected to the power grid using cables containing Copper, phone lines & internet also require Copper, as do many industrial building which will supply what those same houses need, and the resident in those houses, well, they might need new cars with engines that have parts comprised of as you probably guessed – Copper.
Copper may be a little volatile as far as trading goes, but reading its movements correctly and executing trades at the correct time may result in quick profits that you can shape into whatever you want.