For the Quarter Ending September 2025
North America
• In United States, Cupric Oxide Price Index rose quarter-over-quarter in Q3 2025, driven by escalating production costs.
• Production costs increased in Q3 2025, influenced by a 2.6% PPI rise in August and 3.0% CPI in September.
• Copper feedstock costs were volatile in Q3 2025, initially surging due to tariff fears, impacting expenses.
• Rising natural gas feedstock costs and wholesale electricity prices in Q3 2025 added to input pressures.
• Cupric Oxide demand outlook was mixed; automotive demand strengthened, but construction spending contracted.
• Manufacturing output expanded in Q3 2025, supported by a 0.1% industrial production increase.
• Consumer confidence declined to 94.2 in September 2025, indirectly dampening demand for consumer-linked applications.
• Strong retail sales, up 5.42% in September 2025, indirectly supported demand for consumer goods.
• US copper tariffs in July 2025 caused market volatility and a surge in physical copper imports.
Why did the price of Cupric Oxide change in September 2025 in North America?
• Rising input costs, including a 2.6% PPI increase in August 2025, pressured Cupric Oxide prices.
• Copper feedstock volatility and rising natural gas costs in Q3 2025 impacted production expenses.
• US copper tariffs in July 2025 disrupted trade flows and increased import costs.
APAC
• In China, the Cupric Oxide Price Index rose quarter-over-quarter, driven by robust industrial demand and elevated raw material costs.
• Cupric Oxide production costs increased in Q3 2025 due to tight copper concentrate supply and climbing input prices.
• Demand for Cupric Oxide was bolstered by a 6.5% year-on-year rise in industrial production in September 2025.
• The Manufacturing Index contracted in July and August 2025, but improved in September, indicating fluctuating activity.
• New Energy Vehicle production surged in Q3 2025, significantly boosting copper demand for Cupric Oxide.
• China's CPI fell by 0.3% year-on-year in September 2025, reflecting deflationary pressures and weak consumer demand.
• Warehouse inventories of copper in China dropped to multi-year lows by September 2025, signaling tightening supply.
• Refined copper imports into China increased year-on-year in August 2025, supporting domestic supply.
Why did the price of Cupric Oxide change in September 2025 in APAC?
• Tight copper concentrate supply in Q3 2025 led to higher raw material costs for Cupric Oxide production.
• Robust industrial production, up 6.5% year-on-year in September 2025, fueled strong demand for Cupric Oxide.
• Declining warehouse inventories by September 2025 indicated a tightening market balance, supporting price increases.
Europe
• In Germany, the Cupric Oxide Price Index fell quarter-over-quarter in Q3 2025, driven by contracting manufacturing.
• The Manufacturing Index contracted throughout Q3 2025, indicating reduced industrial demand.
• Industrial production declined 1.0% year-over-year in September 2025, further weakening demand.
• Cupric Oxide production costs faced upward pressure from rising copper feedstock prices in Q3 2025.
• Producer prices decreased 1.7% year-over-year in September 2025, mainly due to lower energy costs.
• Consumer price inflation rose 2.4% year-over-year in September 2025, impacting operational costs.
• Retail sales increased 0.2% year-over-year in September 2025, offering slight indirect demand support.
• The unemployment rate remained stable at 6.3% in September 2025, suggesting cautious economic conditions.
• Declines in automotive and construction sectors in Q3 2025 negatively impacted Cupric Oxide demand.
• Global copper mine disruptions led to downward revisions in production growth, tightening raw copper supply.
Why did the price of Cupric Oxide change in September 2025 in Europe?
• Contracting Manufacturing Index in Q3 2025 reduced industrial demand.
• Industrial production declined 1.0% in September 2025, pressuring prices downwards.
• Rising copper feedstock prices in Q3 2025 increased Cupric Oxide production costs.
