If you are planning a rewiring job, new plumbing or an appliance upgrade, copper is one of the materials behind the price. Copper, which CNBC describes as a key component in electronics, construction and transportation, has risen 15.8% since the start of 2026, CNBC reported on October 20, 2026. The report does not say whether contractor quotes or retail prices have changed.
What Changed and Why: Copper Outpaces Gold
Copper is up 15.8% year-to-date and more than 30% over the past 12 months, according to CNBC. Over the same periods, gold futures fell 4.11% year-to-date and 4.52% over 12 months, while spot gold was 4.89% lower over 12 months and 4% lower year-to-date. Investors cited by CNBC attribute copper demand to artificial intelligence, power-grid investment and defense spending. Ivanhoe Electric CEO Taylor Melvin told CNBC’s Squawk Box Europe that countries, regions and industries are increasingly focused on securing access to metals for national security, economic growth and technology infrastructure, and that this shift has helped support copper prices. He described the new demand as almost inelastic, meaning it is relatively insensitive to price.
Follow the Money: Tight Supply and Tariff Uncertainty
According to CNBC, US tariff uncertainty, low Chinese inventories and tight supply are reinforcing investors’ bullish outlook for copper. Investors have questioned the sustainability of AI spending, which CNBC said has led to a recent wobble in tech stocks. Melvin said he expects copper to withstand that volatility, citing relatively inelastic demand from technology and defense. His Arizona-based company focuses on copper, gold, silver, nickel and cobalt, and he said it is a good time to be in copper mining, specifically in the United States. For households, the source gives no figure for how much of the copper price moves into the cost of wiring, pipes, appliances or electronics.
Our Math: A Hypothetical Copper Materials Bill
As an illustration only, take a home project in which copper materials, such as wire or pipe, cost $1,000 at the start of 2026. If the cost of those materials rose by the same 15.8% as the metal’s year-to-date price, the bill would rise by $158 ($1,000 multiplied by 0.158), to $1,158. Using the 12-month gain of more than 30%, the increase would exceed $300 ($1,000 multiplied by 0.30). Labor, which is often a large part of a quote, is not included in these figures. These are hypothetical figures; CNBC does not report how much of the metal’s price change reaches what consumers pay, and finished products also contain many other costs.
This Week and What to Watch
If you are getting quotes for copper-heavy work, ask the electrician or contractor to list material costs separately from labor, and compare more than one quote. Watch for news from LME Week, the annual gathering of the global metals industry, which began in London on Monday, October 19, and for further swings in tech stocks tied to questions about AI spending, which Melvin expects copper to withstand. Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
