For the Quarter Ending March 2025
North America
• The Copper Plate Price Index in the North American increased by 4.7% q-o-q owing to limited supply and speculative buying.
• The Copper plate Spot Price in the U.S. market hovered at USD 16,870/mt DEL Alabama by the end of March 2025.
• April 2025 is expected to see a continued increase in the Copper Plate Price Index, driven by speculative stockpiling and ongoing concerns about U.S. import tariffs.
• Why did the price of Copper Plate Change in April 2025?, The price increase in April is primarily due to the Section 232 investigation, prompting traders to buy in advance of possible tariff-driven supply disruptions.
• Demand from the EV and data center sectors is a key driver in supporting a bullish Copper plate Demand Outlook.
• Volatility is likely to persist due to policy uncertainty and global supply dynamics.
• The Copper plate Production Cost Trend is also under upward pressure due to elevated energy costs and tight labor supply.
• Copper plate Price Forecast suggests further gains if trade barriers are enacted or if EV-related demand accelerates.
APAC
• The Copper Plate Price Index in APAC rose by 1.7% over Q1, supported by resilient demand and technological upgrades in Japan.
• The Copper plate Spot Price in Japan reached USD 13,634/mt Ex Osaka by March-end.
• Why did the price of Copper Plate Change in April 2025?, The price increase in April stems from limited copper plate availability and strong offtake from electronics and construction segments.
• Advancements in high-purity copper manufacturing and strong end-user demand drive a positive Copper plate Demand Outlook.
• Domestic smelters in Japan are finalizing long-term deals amid global trade challenges, supporting stable pricing.
• The Copper plate Production Cost Trend remains steady, with slight pressure from rising input costs in refining.
• The Copper plate Price Forecast points toward moderate gains in Q2 as demand remains steady and supply constraints persist.
Europe
• The European Copper Plate Price Index recorded a 0.9% quarterly increase, ending at USD 16,039/mt FOB Hamburg in March 2025.
• Why did the price of Copper Plate Change in April 2025?, The price increase in April is due to strategic procurement by producers and improving sentiment in export markets, despite local regulatory uncertainty.
• Germany experienced a turnaround mid-quarter with easing input costs and improved production conditions after a sluggish start.
• The Copper plate Spot Price recovered as construction and automotive sectors showed early signs of rebound.
• Export-oriented demand and stabilization in industrial output are supporting a moderately positive Copper plate Demand Outlook.
• The Copper plate Production Cost Trend in Europe remained under control, though smelting costs may rise if concentrate availability tightens.
• Copper plate Price Forecast for Q2 indicates mild upward momentum, driven by recovering end-use segments and cautious optimism.
For the Quarter Ending December 2024
North America
The U.S. copper plate market saw a 4% increase in the fourth quarter of 2024, driven by a combination of strong demand and supply-side dynamics. Throughout the quarter, copper prices demonstrated stability with some fluctuations due to the complex interplay of domestic and international factors. At the start of the quarter, copper plate prices were stable, influenced by increased U.S. copper imports and supply concerns following reduced production at the Bingham Canyon mine.
The global copper market experienced shifts as Chinese economic recovery measures positively impacted demand, while supply chains showed resilience. The U.S. market benefited from strong demand, particularly in the electrical and automotive sectors. The air conditioning industry, in particular, saw impressive growth, with a significant rise in exports. Meanwhile, the automotive sector displayed robust performance, further boosting copper plate consumption. However, towards the end of the quarter, the construction sector faced challenges due to high mortgage rates and economic uncertainty, which led to slower growth in copper plate demand from construction projects.
Despite these challenges, by the end of the quarter, the price for Copper Plate in the U.S. stood at USD 14,180/MT, reflecting a positive trend driven by solid industrial demand.
Europe
In the fourth quarter of 2024, copper plate prices in Europe increased by 6% quarter-on-quarter, driven by stable manufacturing output and strong restocking activities. Demand from the electronics sector improved after previous declines, supported by favorable cost structures, while high temperatures spurred regional restocking. Despite steady supply aided by increased global smelting activity and rising Chilean copper production, logistical disruptions, such as those along the Moselle River, created localized challenges. In Germany, copper plate prices ended the quarter at USD 14,881/MT FOB Hamburg. The country saw mixed demand trends, with the electronics sector recovering and automotive sales showing modest growth. However, battery-electric vehicle registrations dropped year-over-year, reflecting shifting dynamics in the automotive industry. Construction activity remained subdued due to high borrowing costs, political uncertainty, and weaker demand, though renewable energy generation temporarily lowered electricity costs for copper producers. Supply chains showed resilience despite disruptions, with inventory levels sufficient to meet demand. The German market also faced policy shifts, including reduced subsidies for solar installations, which could influence future copper demand. By the quarter's end, a slight uptick in prices was observed, signaling stable market conditions despite persistent challenges in key sectors.
APAC
In the fourth quarter of 2024, the copper plate market in the APAC region experienced a notable upward trend, with prices increasing by 2.1% quarter-over-quarter. This growth was primarily driven by strong demand in key sectors and balanced supply dynamics across the region. In Japan, the copper plate market saw steady improvement throughout the quarter. A significant factor contributing to this increase was the stable supply chain, supported by both domestic production and imports. The market was further buoyed by the automotive sector’s continued growth, particularly in new energy vehicle exports and rising demand from the electronics industry. Meanwhile, the supply of copper was secured through efficient domestic production, coupled with strategic imports. However, cost pressures from rising electricity prices due to higher fuel costs influenced production costs, indirectly driving copper plate prices higher. Exports played a crucial role in supporting price stability, with Japan seeing a rise in shipments to Asia, especially in semiconductor equipment and non-ferrous metals. By the end of the quarter, the price for copper plate Ex Osaka reached USD 13,002/MT, reflecting the resilience of the market despite challenges. Overall, Japan’s copper plate market showed strong growth momentum heading into the new year.
For the Quarter Ending September 2024
North America
The third quarter of 2024 has been a period of significant price increases for Copper Plate in North America, driven by a confluence of factors shaping the market dynamics. The surge in prices can be attributed to a combination of supply chain disruptions, including potential strikes at major ports, and production halts at key mines worldwide, tightening the global supply of copper. Furthermore, the growing demand for copper in emerging sectors like electric vehicles and AI data centers has bolstered market sentiment, driving prices upwards.
In the USA specifically, the market has witnessed the most substantial price changes, reflecting the broader trends seen in North America. The overall price increase of 5% from the first half to the second half of the quarter underscores the positive momentum in the market. Additionally, the 1% increase from the previous quarter indicates a gradual but steady upward trajectory in prices.
The quarter concluded with Copper Plate prices reaching USD 14453/MT DEL Alabama in the USA, marking a notable peak in pricing, signaling a predominantly positive pricing environment for Copper Plate in Q3 2024.
Europe
In Q3 2024, the European region witnessed a significant uptrend in Copper Plate pricing, with Germany experiencing the most notable price changes. The overall market dynamics were influenced by a combination of factors, including global economic shifts, supply chain challenges, and strong demand from key industries like automotive and construction. These factors collectively contributed to a bullish pricing environment, reflecting a positive sentiment in the market.
Germany, as a key player in the European copper market, saw prices surge by 1% compared to the previous quarter. Additionally, during the latter half of the third quarter, there was a noticeable 5% escalation in the price variance compared to the first half, showing an optimistic trend in market. The quarter-ending price for Copper Plate in Germany stood at USD 14735/MT FD-Drolshagen, highlighting the consistent upward trajectory in pricing.
The price surge in Germany can be attributed to robust demand from the automotive and construction sectors, alongside supply constraints and global economic uncertainties. This price increase underscores a positive trend in the market, signaling optimism for the future of the copper industry in the region.
APAC
The Q3 2024 period for Copper Plate prices in the APAC Region has been marked by stability, with minimal fluctuations in market values. This stability has been influenced by a combination of factors such as consistent demand from key sectors, moderate global supply levels, and overall market sentiment. These factors have created a balanced pricing environment, maintaining a sense of stability in the market. Japan, in particular, has experienced the most significant price changes during this quarter. This increase is in line with the general movement in nonferrous metals, which has been influenced by the depreciation of the dollar following adjustments to the interest rates by the U.S. Federal Reserve. The quarter-on-quarter percentage change of 3% reflects steady progression, with minimal price variations. The price comparison between the first and second half of the quarter was negligible, indicating a sustained pricing trend. The quarter-ending price of USD 12784/MT for Copper Plate (H 3100) Ex Osaka in Japan signifies a continuation of the stable pricing environment observed throughout the quarter.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American market for Copper Plate experienced notable price fluctuations in downward compared to the previous quarter driven by a confluence of significant factors. The quarter commenced with a robust uptrend, fuelled by heightened demand from the automotive and energy sectors, specifically due to the increasing adoption of electric vehicles and advancements in renewable energy infrastructure. Supply-side constraints further exacerbated the price volatility, with global supply chains being disrupted by labour strikes and operational challenges in major copper mines.
In the USA, which witnessed the maximum price changes, the quarter was marked by a bearish trend. The overall sentiment was influenced by mounting copper inventories in global warehouses and a strong US dollar, which made copper more expensive for foreign buyers. Seasonality played a role, with price variations reflecting the cyclical nature of copper consumption in manufacturing and construction activities. Additionally, the bearish market sentiment was compounded by the Federal Reserve's indications of potential delays in interest rate cuts, thereby exerting downward pressure on commodities.
From the previous quarter in 2024, prices fell reflecting ongoing challenges in balancing supply-demand dynamics. A comparison between the first and second halves of the quarter shows a marginal decline underscoring a relatively stable yet subdued pricing environment. Despite these fluctuations, the quarter-ending price stood at USD 13,740/MT for Copper Plate (C 11000) DEL Alabama, USA. This price reflects a stable outlook towards the end of the quarter, underpinned by a cautious optimism as market participants navigate through the complexities of supply constraints and demand uncertainties. Overall, the pricing environment for Copper Plate in Q2 2024 in North America exhibited a predominantly negative sentiment, driven primarily by external macroeconomic factors and internal industrial dynamics.
Europe
In Q2 2024, the European market for Copper Plate experienced a notable upward trend in prices, driven largely by a confluence of supply constraints and robust demand dynamics. Key factors contributing to the price escalation included geopolitical unrest, labour strikes within the mining sector, and stringent mining regulations, all exacerbating supply shortages. Additionally, heightened demand from sectors such as automotive, driven by the surge in hybrid electric vehicle registrations, and infrastructure development further bolstered market prices. The European Commission's ambitious target to deploy millions of EV charging points also played a significant role in sustaining demand.
Germany witnessed the most substantial price changes in Copper Plate, reflecting a consistent increase throughout the quarter. The overall trends indicated a positive pricing environment, characterized by a steady escalation in line with seasonal demand upticks and persistent supply-side issues.
A comparative analysis between the first and second half of Q2 2024 revealed a price increase, indicative of sustained demand and limited supply availability throughout the period. The quarter concluded with the price of Copper Plate (CW008A-1 mm) FD-Drolshagen in Germany reaching USD 13946/MT. Overall, the pricing environment for the quarter was decidedly positive, driven by a combination of constrained supply channels and burgeoning demand across key sectors.
Asia-Pacific
In the APAC region, Q2 2024 has witnessed a notable upswing in Copper Plate prices, driven by a confluence of significant factors. The quarter has been marked by a resurgence in demand from key sectors such as automotive and infrastructure, which have been pivotal in sustaining price elevations. The global supply chain disruptions have exacerbated this trend, creating a supply-demand imbalance that has further propelled prices. Additionally, the escalating costs of raw materials and energy have contributed to the upward pressure on Copper Plate pricing. Investment fund activities and speculative trading have also played a crucial role, with heightened buying activity stemming from optimistic future demand expectations and anticipated supply shortages.
Focusing on Japan, which has experienced the most significant price changes, the overall trends reveal a steady increase influenced by seasonal demand peaks and underlying economic indicators. The seasonality factor, particularly with the onset of construction projects and industrial activities, has synchronized with the uptrend in prices. The correlation between supply constraints and robust demand has reinforced this pricing environment. From the same quarter last year, prices have surged reflecting a stable yet persistent growth trajectory.
Furthermore, the first and second half of the quarter saw a comparative price increase indicating consistent upward movements throughout the period. The latest quarter-ending price stands at USD 12666/MT for Copper Plate (H 3100) Ex Osaka in Japan, signifying a bullish sentiment. This analysis points towards a positive pricing environment for Copper Plate in the APAC region during Q2 2024, underpinned by robust demand and constrained supply dynamics.
Frequently Asked Questions (FAQs):
1. What is the current price of Copper plate in the United States?
As of Q1 2025, the Copper plate Spot Price in the U.S. stood at USD 16,870/mt DEL Alabama.
2. What is the current price of Copper plate in Japan?
As of Q1 2025, the Copper plate Spot Price in Japan stood at USD 13,634/mt Ex Osaka.
3. What is driving Copper plate price increases in April 2025?
In all major regions, supply constraints, speculative buying, and strong industrial demand are contributing to price index escalation.
4. How is the demand outlook for Copper plate in 2025?
The Copper plate Demand Outlook remains robust globally, especially from EVs, electronics, data centers, and construction sectors, supporting higher prices and stable production trends.
