Enter the total cost of the copper and the total weight of the copper into the calculator to determine the cost per pound of copper.
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Cost Per Pound of Copper Formula
The following equation is used to calculate the Cost Per Pound of Copper.
CPC = TCC / TWC
- Where CPC is the cost per pound of copper ($/lb)
- TCC is the total cost of the copper ($)
- TWC is the total weight of the copper (lb)
To calculate the cost per pound of copper, simply divide the total cost of copper by the weight of the copper.
What is the Cost Per Pound of Copper?
Definition:
Copper prices change frequently. For reference, U.S. copper spot prices were roughly in the mid-$4 per pound (USD) range in February 2022, but you should check a live quote for the current market price.
The cost per pound of copper is the total cost associated with a given amount of copper divided by the total weight (in pounds). In a purchasing context, this could include the purchase price and any fees (shipping, handling, etc.). In a production context, it could include operating costs used to produce or recover the copper.
The first step in calculating the cost per pound of copper involves determining the total cost for the copper amount you are analyzing. This total cost is then divided by the total pounds of copper to determine the cost per pound.
In mining and metals reporting, per-pound cost figures may be presented using different scopes of costs, such as direct operating (“cash”) costs versus broader measures that include indirect/overhead and sustaining costs.
Depending on which costs are included, the results can differ substantially from each other.
A direct-cost (operating or “cash cost”) approach typically excludes many indirect or overhead items (for example, some site overhead, insurance, and certain taxes and administrative costs). Excluding these categories generally results in a lower per-pound cost than a method that includes them.
Because companies and reports may use different definitions and accounting boundaries for “direct” and “all-in” costs, it’s important to compare like-for-like when evaluating cost per pound figures across sources.
