Copper plate prices in Asia saw a modest increase during the week ending June 13. This was driven by a surge in demand in China, particularly from the evolving consumer electronics, new energy, and AI sectors, alongside Japanese manufacturers passing on higher processing charges to copper plate end-users.
The Asian copper plate market is currently experiencing a period of modest yet consistent growth, propelled by shifts in specific sector demands and the evolving landscape of global trade. Robust consumption from China's technology and energy sectors, coupled with expanding production capacities and strategic considerations around U.S. tariff risks, are collectively influencing pricing trends and manufacturing activities across the region.
Key takeaways:
China
The Copper Plate industry saw its overall operating rate slightly increase to 72.16% (up 0.65 percentage points month-over-month), driven by stable growth in terminal orders and consistent processing fees. Notably, publicly listed Copper Plate firms improved their financials, either turning profitable or significantly reducing losses in Q1 2025. While electronic circuit Copper Plate's operating rate dipped to 75.61% (down 0.87 percentage points), lithium battery Copper Plate's rate climbed to 70.39% (up 1.44 percentage points), with large enterprises expanding capacity.
Copper Plate for electronic circuits experienced robust demand, driven by its seasonal peak in the consumer sector and a surge in export activities due to looming tariff decisions. The overall rise in copper prices during May further encouraged some stockpiling. With downstream orders holding steady and new orders for June projected to remain stable, Copper Plate enterprises saw their capacity utilization increase, accompanied by a modest rise in both raw material and finished product inventories.
For June 2025, the overall operating rate of copper plate producers is projected to see a modest increase. This is mainly due to continuous capacity expansion from copper foil manufacturers and stable Q2 terminal orders. While ESS sector orders might soften after recent policy changes and electronic circuit copper plate demand may dip seasonally, a significant overall decline in copper plate demand is not expected.
Japan
Japanese Copper plate prices edged up in mid-June. Rising costs across the board – including auxiliary materials, transportation, labor, and outsourcing – are making it difficult for manufacturers to absorb expenses. A worsening labor shortage is also driving calls for commission revisions to retain essential personnel.
The raw material outlook for Copper Plate appears to be stabilizing. After months of decline, treatment and refining charges (TC/RCs) for copper concentrate are no longer falling, hinting at a possible market floor. However, some industry players view this as a short-term pause, driven by smelters having secured enough supply for now. Meanwhile, smelters may be hesitant to push spot prices lower ahead of upcoming negotiations with Antofagasta.
Copper plate prices are expected to rise sharply. Strong demand from the U.S., following comments by Donald Trump about possible copper tariffs, is drawing global supplies into the country. This is causing shortages in other regions and driving prices up.
