The prices for copper keep on changing despite what the analysts predict will happen. Depending on the factors in a given particular period, they may go up or down, affecting the demand and supply curves. The high demand for the metal led to an increase in prices and quantity demanded/supplied for copper (Kilian & Zhou, 2015) . Consumers also tried to seek other alternatives for using copper, such as plastic and aluminium, due to this. A year later, the supply of copper increased, leading to a decline in prices and quantity demanded and supplied. The supply curve shifted towards the left.
The world economy declined in April 2011, leading to a decline in quantity demanded copper in both the housing and construction industries, and this was capped with low prices for the commodity. However, the Chinese and US economies started showing signs of growth in June 2011. An increase in consumer demand for a product leads to an increase in quantity demanded that eventually translates to increased prices (Kilian & Zhou, 2015) . Later, the decline in the European economies, which were the major consumers of copper, made merchants reduce their copper inventories. The supply of copper increased, shifting the supply curve on the right.
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The employment rate increase in America led to an increased demand for metal in the manufacturing and construction industries. Human factors such as strikes alongside high demands worldwide played a role in shifting the demand curve (Kilian & Zhou, 2015) . However, political instability in the major copper-producing countries made the metal scarce. The demand curve shifted to the right, and prices increased. Concerns arose during the same period over the low production of copper in Chile due to the earthquake that happened in March 2010. The supply curve shifted to the left, and prices increased.
Reference
Kilian, L., & Zhou, X. (2015). Modeling Fluctuations in the Global Demand for Commodities . New York: John Wiley & Sons.
