Top 5 copper shares to watch in 2025

What are copper shares?

Copper shares are stocks of publicly listed companies involved in exploring, mining, refining or producing copper – one of the world’s most widely used industrial metals. When you buy copper shares, you’re essentially investing in a company that earns revenue from copper production or related activities.

These companies range from global mining giants such as BHP and South32 to smaller, pure-play copper producers and exploration companies. The performance of copper shares is closely linked to copper prices, which are influenced by global economic growth, industrial demand and supply constraints.

Copper in the Australian economy

Copper plays a crucial role in Australia’s resource sector, underpinning industries from construction and manufacturing to renewable energy and EVs. As one of the world’s leading producers and exporters of minerals, Australia benefits not only from copper’s strong demand but also from its role in global decarbonisation efforts.

Copper exports contribute significantly to national income, regional employment and infrastructure development. Major copper operations in South Australia, Queensland and Western Australia support thousands of jobs and help sustain mining towns that rely on the sector’s continued growth. The metal is also a cornerstone of Australia’s clean energy strategy.

Copper’s role in the future

Copper’s central role in global electrification and infrastructure makes it one of the most compelling commodities of the next decade. From global giants like BHP and South32 to mid-tier and emerging producers such as Sandfire, 29Metals and Metals X, ASX copper shares offer diverse ways to tap into this long-term growth theme, whether through share trading or CFD trading.

Risks of copper shares

Like all commodities, copper is subject to cycles of boom and slowdown, which can strongly influence share prices. The biggest risk for share and CFD traders is price volatility; copper prices often fluctuate with global economic conditions, supply disruptions or shifts in industrial demand from major consumers like China.

And, of course, while volatility is a CFD trader’s bread and butter, it also comes with substantial risk, magnifying potential gains and losses.

Additionally, company valuations can swing even when operations remain stable. Rising costs, project delays or weaker-than-expected output can also affect profitability. Smaller producers and exploration companies, in particular, tend to be more sensitive to funding challenges and market sentiment, which can amplify downside risk during market downturns.

Currency fluctuations also play a role, as copper is priced in US dollars while ASX-listed miners operate in Australian dollars. This adds another layer of market movement that can affect investment returns and trading outcomes.

Top 5 ASX copper shares to watch in 2025

We selected five shares that may appeal to both share and CFD traders. For the most part, barring South32, the stock prices of these companies have risen year to date (YTD).

They’ve also put out decent recent earnings reports, indicating their potential for growth. However, their share prices throughout the year have shown some volatility, creating opportunities for CFD traders.

Overview of the shares in this article

You can share trade and CFD trade all the shares mentioned in this article with us.

All figures are accurate as of 29 October 2025.

1. South32 Limited (ASX: S32)

Market cap: A$14.18 billion¹

South32 is a diversified mining and metals company with operations spanning Australia, South Africa and the Americas. Its portfolio includes aluminium, manganese, nickel and copper, with copper output primarily from its Sierra Gorda operation in Chile.

The company’s strategy has increasingly tilted toward future-facing commodities, such as copper, which are vital for electrification and decarbonisation.

For share traders, South32 offers exposure to a basket of essential industrial and green transition materials, backed by solid management and a focus on cost discipline. Its strong dividend record also appeals to those seeking both stability and moderate growth potential.

For CFD traders, South32’s share price tends to respond to global copper price movements and commodity market sentiment. This volatility can create trading opportunities, especially during copper supply shocks or macroeconomic shifts that affect base metal prices.

This has been particularly true in the YTD, as the stock has seen significant volatility since April 2025, along with a declining share price value.

Highlights:

• The share price has fallen 5.59% YTD²
• However, its price to earnings (P/E) ratio is fairly high at 37.26,³ indicating the potential for growth
• Its FY26 production guidance is fully on schedule⁴

2. BHP Group Limited (ASX: BHP)

Market cap: A$220.07 billion⁵

BHP is one of the world’s largest mining companies, producing iron ore, copper, coal and nickel. Copper is a major part of its long-term growth strategy, with major assets such as Escondida in Chile and Olympic Dam in South Australia.

The company’s 2023 acquisition of OZ Minerals further strengthened its copper portfolio, positioning BHP as a key global supplier to the clean energy sector.

For share traders, BHP offers scale, diversification and a strong dividend history. Its copper business benefits from global infrastructure spending and EV growth, both of which are copper-intensive. BHP’s focus on sustainability and efficiency adds to its long-term appeal for share traders seeking lower-risk exposure to the copper boom.

CFD traders might find BHP’s share price appealing for shorter-term moves tied to commodity cycles and earnings releases. The stock’s liquidity and global recognition make it a popular choice for those trading on market sentiment around metals.

Highlights:

• It’s had a steady share price growth of 11.11% YTD,⁶ but with volatility for short-term plays in that time
• During last quarter, group copper production increased by 4%⁷

3. Metals X Limited (ASX: MLX)

Market cap: A$704.68 million⁸

Metals X is a smaller, diversified base metals company with key exposure to tin and copper. Its main copper interest lies in the Nifty Copper Project in Western Australia, an asset with significant potential for redevelopment and expansion.

Metals X’s strategy is focused on reviving production while managing costs and optimising its tin operations to support long-term growth.

For share traders, Metals X provides exposure to copper prices through a relatively small-cap structure, meaning potential for outsized gains if copper markets strengthen. Its asset base and redevelopment plans make it a speculative but interesting play for those comfortable with higher risk.

For CFD traders, MLX’s share price movements can be quite volatile, often reacting sharply to project updates and broader commodity trends. That volatility can present short-term opportunities, especially when copper prices swing on global demand forecasts or supply news.

Highlights:

• The share price has absolutely soared – 106.17% YTD.⁹ The value largely went sideways mid-year, but saw a significant uptick around September 2025
• For the quarter ending June 2025, MLX generated A$29.97 million of net imputed cash inflow from operating activities¹⁰

4. 29Metals Limited (ASX: 29M)

Market cap: A$555.39 million¹¹

29Metals is a mid-tier copper producer with operations in Queensland and Western Australia, including the Capricorn Copper and Golden Grove mines. The company focuses on copper and zinc, with expansion projects aimed at increasing output and improving operational efficiency.

Despite being a relatively new ASX listing, 29Metals has quickly established itself as one of Australia’s key pure-play copper producers.

Share traders may be drawn to 29Metals for its growth potential and direct exposure to copper, without the dilution of other commodities. Its production assets and exploration upside offer potential long-term value, though earnings can fluctuate with commodity cycles.

For CFD traders, 29Metals’ stock often reacts to changes in copper prices and quarterly production updates. Its sensitivity to metal market sentiment makes it suitable for short-term trading strategies around copper demand forecasts or Chinese industrial data releases.

Highlights:

• The company’s share price has increased 74% in value YTD, with a fairly steady rise from around May 2025¹²
• During the most recent FY25 quarter, copper production at Golden Grove reached 5.8 kt, and its 2025 guidance on copper production is on schedule¹³

5. Sandfire Resources Limited (ASX: SFR)

Market cap: A$7.12 billion¹⁴

Sandfire Resources is a leading Australian copper producer best known for its DeGrussa and Motheo copper operations. With projects across Australia and Botswana, Sandfire has built a reputation as a reliable mid-tier producer with global reach. Its focus on efficient production and growth in stable jurisdictions sets it apart from smaller exploration-heavy peers.

For share traders, Sandfire offers exposure to copper production backed by tangible assets and a solid operational record. The company is well positioned to benefit from rising demand for copper in renewable energy and EVs, while its expanding Motheo project should support future earnings.

For CFD traders, Sandfire’s stock tends to be responsive to copper price fluctuations and quarterly performance results, offering opportunities for tactical trades. Volatility during commodity price cycles can make it an attractive option for short- to medium-term trading strategies.

Highlights:

• Its share price has steadily increased from around April 2025, leading to a 72.48% growth YTD¹⁵
• Group copper equivalent production in the most recent quarter was nearly 5% ahead of schedule¹⁶

How to trade ASX copper shares with IG AU

CFDs

1. Open a CFD trading account with IG AU
2. Search for ASX copper shares on the IG platform
3. Decide whether to go long (buy) or short (sell)
4. Choose your position size
5. Set stop-loss and limit orders
6. Place your trade and monitor it

Share trading

1. Open a share trading account with IG AU
2. Search for ASX copper shares
3. Choose the shares you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment and collect any dividends

FAQs about copper shares

Footnotes
 

1. TradingView, October 2025
2. TradingView, October 2025
3. TradingView, October 2025
4. South32, September 2025
5. TradingView, October 2025
6. TradingView, October 2025
7. BHP, October 2025
8. TradingView, October 2025
9. TradingView, October 2025
10. Metals X, June 2025
11. TradingView, October 2025
12. TradingView, October 2025
13. 29Metals, September 2025
14. TradingView, October 2025
15. TradingView, October 2025
16. Mining Weekly, October 2025