Copper Price Correlation Analysis and 2025 Copper Price Forecast

As an important industrial metal, copper will play an increasingly important role in the future energy transition and technological progress. Therefore, it is helpful to study the fluctuations of copper prices to predict copper prices. In exploring the correlation between gold, silver and oil price changes and copper price volatility, the authors chose the OLS regression model to describe it. As a typical prediction model, the ARIMA model is highly favored by scholars from all over the world because of its accuracy and adaptability. This article will use the ARIMA model to forecast the 2025 copper price change. The study found a high correlation between the price changes of the three and the volatility of the copper price, with the silver and oil prices having a positive impact on the copper price and the gold price having an inverse impact on the copper price. The fitted model speculates that copper prices will continue to increase in 2025.