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MRCI's Futures Highlight - Copper(CMX)

MRC Logo
MRCI's Futures Highlight - Copper(CMX)

MRCI hopes this profile of the CMX Copper futures contract, with its statistics and feature studies, will help you derive wise trading decisions from its presentation of long-term perspective, computer analysis, and historical background. This additional history is designed to complement the body of knowledge contained in any seasonal patterns and strategies published. The weekly and monthly charts on this page depict prices for nearby contracts, which most closely reflect the underlying cash market.

Copyright © 1989- Moore Research Center, Inc. All Rights Reserved
Some data provided by Commodity Research Bureau

The table below offers a statistical analysis of historical daily trading in the CMX Copper futures. The average range for each day of the week in each year and overall has been computed for purposes of comparison and further insight into the dynamics of this market. (from futstats, but I don't currently have it available for include)

MRCI's Nearby Futures Range Detail for Copper(CMX)
from 1/1976 - 8/2020
Calendar
Year
Monday
Avg Rng
Tuesday
Avg Rng
Wednesday
Avg Rng
Thursday
Avg Rng
Friday
Avg Rng
Yearly
Avg Rng
1976 1.21($303) 1.30($325) 1.18($295) 1.24($309) 1.06($266) 1.20($300)
1977 1.01($253) 0.98($244) 1.10($275) 0.98($245) 1.04($260) 1.02($256)
1978 0.92($229) 0.89($221) 1.10($275) 0.91($227) 0.89($223) 0.94($235)
1979 2.44($611) 2.77($692) 2.45($612) 2.38($596) 2.44($609) 2.50($624)
1980 3.23($807) 2.96($739) 3.08($769) 3.09($772) 3.19($797) 3.11($777)
1981 1.66($415) 1.41($352) 1.40($351) 1.48($371) 1.39($348) 1.47($367)
1982 1.65($413) 1.56($390) 1.55($388) 1.46($364) 1.50($375) 1.54($386)
1983 1.47($368) 1.17($293) 1.13($282) 1.25($313) 1.21($302) 1.24($311)
1984 1.10($275) 1.06($264) 1.00($250) 1.07($266) 1.14($286) 1.07($268)
1985 1.04($261) 0.99($247) 1.02($255) 0.97($242) 0.85($214) 0.98($244)
1986 0.80($200) 0.82($204) 0.67($167) 0.63($158) 0.71($179) 0.73($182)
1987 2.00($500) 1.95($488) 1.85($462) 1.67($417) 1.66($415) 1.83($456)
1988 3.36($840) 3.67($918) 3.70($924) 3.36($841) 3.32($830) 3.49($872)
1989 3.04($759) 1.93($482) 2.10($524) 1.75($436) 2.37($593) 2.22($556)
1990 2.73($683) 2.91($727) 3.06($765) 2.58($645) 2.88($720) 2.83($708)
1991 1.54($385) 1.68($420) 1.55($388) 1.54($384) 1.47($368) 1.56($390)
1992 1.24($309) 1.12($280) 1.15($287) 1.28($320) 1.19($298) 1.19($299)
1993 1.24($309) 1.46($365) 1.30($324) 1.45($363) 1.58($395) 1.40($351)
1994 2.04($509) 2.13($533) 2.27($568) 1.82($455) 1.92($480) 2.04($509)
1995 2.10($525) 2.43($607) 2.68($671) 2.64($661) 2.18($546) 2.42($604)
1996 2.32($579) 2.48($619) 2.40($601) 2.43($608) 2.76($690) 2.48($619)
1997 2.12($531) 2.48($620) 2.28($571) 2.25($562) 2.24($561) 2.28($570)
1998 1.66($416) 1.63($406) 1.76($440) 1.67($416) 1.66($414) 1.68($419)
1999 1.30($325) 1.51($377) 1.63($408) 1.45($363) 1.55($388) 1.49($373)
2000 1.31($328) 1.41($352) 1.30($325) 1.27($319) 1.31($326) 1.32($330)
2001 1.09($273) 1.26($315) 1.22($306) 1.16($291) 1.21($302) 1.19($298)
2002 1.20($300) 1.21($302) 1.28($320) 1.25($312) 1.26($316) 1.24($310)
2003 1.57($393) 1.42($356) 1.33($332) 1.59($399) 1.43($358) 1.47($367)
2004 3.18($795) 3.23($806) 4.15($1038) 3.22($805) 3.39($847) 3.44($860)
2005 3.33($833) 3.56($889) 3.63($907) 3.63($907) 3.44($860) 3.52($880)
2006 11.22($2806) 10.71($2677) 10.34($2584) 12.21($3052) 10.57($2642) 11.00($2750)
2007 9.75($2437) 9.80($2449) 9.65($2413) 10.84($2710) 9.23($2308) 9.86($2464)
2008 12.70($3175) 12.29($3071) 12.00($3000) 12.63($3157) 11.64($2911) 12.25($3061)
2009 9.31($2327) 9.37($2342) 9.26($2315) 8.67($2167) 8.99($2248) 9.12($2280)
2010 9.04($2260) 10.03($2507) 9.53($2383) 9.57($2392) 9.11($2279) 9.47($2367)
2011 11.61($2902) 10.66($2666) 12.38($3095) 11.43($2856) 10.83($2706) 11.38($2844)
2012 7.50($1875) 7.28($1821) 7.11($1777) 7.09($1772) 7.98($1995) 7.39($1848)
2013 5.82($1455) 5.90($1475) 6.58($1646) 6.27($1567) 6.03($1508) 6.12($1531)
2014 4.98($1245) 4.81($1203) 4.84($1211) 4.54($1135) 4.57($1144) 4.75($1187)
2015 5.88($1470) 6.47($1618) 5.37($1342) 5.72($1431) 5.72($1430) 5.83($1459)
2016 4.67($1168) 5.17($1293) 4.84($1209) 4.53($1133) 4.75($1188) 4.80($1199)
2017 5.03($1257) 5.70($1424) 4.82($1206) 5.32($1330) 5.19($1299) 5.21($1303)
2018 5.35($1338) 6.91($1727) 6.30($1575) 6.24($1561) 5.71($1427) 6.11($1528)
2019 4.20($1049) 4.15($1037) 4.21($1053) 4.28($1070) 4.81($1201) 4.33($1082)
2020 7.35($1838) 6.31($1578) 6.18($1544) 5.83($1457) 6.69($1673) 6.45($1612)

What other characteristics do CMX Copper futures exhibit for various days of the week? We ran various studies for the last 180 calendar days of trading prior to trading prior to expiration for each contract. (from futstats, but I don't currently have it available for include)

MRCI's Nearby Futures Summary for Copper(CMX)
from 1/1976 - 8/2020
Summary
Item
Monday
Summary
Tuesday
Summary
Wednesday
Summary
Thursday
Summary
Friday
Summary
Yearly
Summary
Range 3.71($928) 3.77($944) 3.76($939) 3.73($934) 3.69($922) 3.73($933)
Closed Up 960(45%) 1124(49%) 1180(51%) 1120(50%) 1163(52%) 5547(49%)
Closed Dn 1128(53%) 1135(49%) 1091(47%) 1113(49%) 1017(46%) 5484(49%)
Closed Uchg 33(2%) 42(2%) 35(2%) 29(1%) 42(2%) 181(2%)
Gapped up 247(12%) 286(12%) 305(13%) 266(12%) 265(12%) 1369(12%)
Un-filled Gaps Up 93(38%) 113(40%) 126(41%) 89(33%) 113(43%) 534(39%)
Gapped Down 328(15%) 300(13%) 254(11%) 276(12%) 249(11%) 1407(13%)
Un-filled Gaps Down 146(45%) 120(40%) 87(34%) 95(34%) 84(34%) 532(38%)

Daily Percent Change Summary for Copper(CMX)

UNCH
>0%-
<1%
+1%-
<2%
+2%-
<3%
+3%-
<4%
+4%-
<5%
+5%-
<6%
+6%-
<7%
+7%-
<8%
+8%-
<9%
+9%-
<10%
+10%-
<20%

>+20%
181 3054 1484 596 240 101 38 19 6 6 1 2 0
<0%-
>-1%
-1%-
>-2%
-2%-
>-3%
-3%-
>-4%
-4%-
>-5%
-5%-
>-6%
-6%-
>-7%
-7%-
>-8%
-8%-
>-9%
-9%-
>-10%
-10%-
>-20%

<-20%
3078 1465 551 224 80 42 23 15 1 2 3 0

The table below represents yearly low, high, last yield in the cash market for the CMX Copper futures contracts. Quotes are from daily cash market price activity.

Copper: High Grade/Scrap #2 wire - Jun 08, 2020
  Period Low(Jan-Dec) Period High(Jan-Dec) Last Day Average
Year Date Price Date Price Date Price Price
2019 09/03/2019 251.25 04/17/2019 297.55 12/31/2019 279.40 272.10
2018 08/15/2018 255.70 06/08/2018 329.30 12/31/2018 262.80 292.38
2017 01/03/2017 248.10 12/28/2017 328.60 12/29/2017 327.95 280.53
2016 01/15/2016 193.95 12/05/2016 268.90 12/30/2016 249.75 219.88
2015 11/23/2015 201.95 05/12/2015 295.05 12/31/2015 212.55 250.56
2014 12/26/2014 283.55 01/02/2014 343.15 12/31/2014 283.85 311.84
2013 06/24/2013 302.60 02/01/2013 377.55 12/31/2013 344.15 333.76
2012 06/08/2012 328.35 02/09/2012 397.45 12/31/2012 364.10 361.07
2011 10/20/2011 305.45 02/14/2011 462.30 12/30/2011 343.15 400.13
2010 06/08/2010 277.25 12/31/2010 443.95 12/31/2010 443.95 343.00
2009 01/22/2009 138.10 12/31/2009 332.75 12/31/2009 332.75 236.53
2008 12/24/2008 124.75 07/02/2008 407.75 12/31/2008 139.50 312.88
2007 02/05/2007 240.45 05/03/2007 377.20 12/31/2007 303.05 322.92
2006 01/20/2006 213.00 05/23/2006 407.55 12/29/2006 285.40 309.86
2005 01/04/2005 139.50 12/27/2005 228.00 12/30/2005 216.15 168.29
2004 01/07/2004 106.25 12/28/2004 154.25 12/30/2004 148.70 129.19
2003 04/03/2003 70.90 12/31/2003 104.30 12/31/2003 104.30 80.98
2002 01/02/2002 65.30 06/04/2002 78.35 12/31/2002 69.70 71.64
2001 11/07/2001 60.40 01/18/2001 86.70 12/31/2001 65.30 72.55
2000 04/17/2000 74.20 09/12/2000 92.85 12/29/2000 84.65 83.96
1999 02/22/1999
03/15/1999
03/16/1999
03/18/1999
03/19/1999
61.00
61.00
61.00
61.00
61.00
09/29/1999 88.00 12/30/1999 85.25 72.19
1998 12/11/1998
12/14/1998
12/17/1998
12/18/1998
12/21/1998
12/22/1998
12/23/1998
12/24/1998
12/28/1998
65.00
65.00
65.00
65.00
65.00
65.00
65.00
65.00
65.00
04/15/1998 86.00 12/31/1998 66.00 75.07
1997 12/26/1997
12/29/1997
12/30/1997
12/31/1997
77.00
77.00
77.00
77.00
06/11/1997
06/16/1997
06/18/1997
06/19/1997
122.00
122.00
122.00
122.00
12/31/1997 77.00 103.58
1996 07/15/1996
09/12/1996
09/16/1996
09/23/1996
87.00
87.00
87.00
87.00
05/08/1996
05/13/1996
130.00
130.00
12/31/1996 103.00 105.91
1995 10/18/1995 121.00 01/19/1995
01/24/1995
149.00
149.00
12/29/1995 126.00 136.35
1994 01/07/1994 84.50 12/01/1994
12/02/1994
12/15/1994
12/16/1994
12/28/1994
12/29/1994
12/30/1994
143.00
143.00
143.00
143.00
143.00
143.00
143.00
12/30/1994 143.00 111.47

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