Aluminium Wire (Copper Cladded) Prices Incline in Asia Amidst High Feedstock and Firm Offtakes

In the first half of June, the Asian market for Aluminium Wire (Copper Cladded) witnessed a positive price movement driven by various factors across key regions. For China, the current prices of Aluminium Wire (Copper Cladded) show a positive price movement of 0.8% from previous month with prices standing at USD 6468/MT FOB Shanghai (China). Meanwhile, South Korea has also seen its Aluminium Wire (Copper Cladded) rise due to rise in downstream demand. The prices in South Korea displayed an increase of 0.8% to USD 6474/MT, FOB Busan (South Korea) during the first half of June 2024. Additionally, in Vietnam, the price rise in the market reflects growing needs for Aluminium Wire (Copper Cladded) in the country amidst ongoing technological advancements.

In China, the prices of Aluminium Wire (Copper Cladded) have been significantly impacted by recent developments in raw materials. Aluminium, crucial for Aluminium Wire (Copper Cladded) manufacturing, saw a notable price rise in early June, directly influencing prices. Meanwhile, China's Aluminium production reached a new peak recently due to revived smelting operations, supported by improved hydropower reserves following heavy rains in Yunnan. On the other hand, copper, which serves as the cladding material in Aluminium Wire (Copper Cladded), is experiencing a price decline in China. The prices of copper wire in the first half of June are trending at USD 9423/MT FOB Shanghai (China) down almost 1% from the previous month. Despite this, due to a stable demand in the market for Aluminium Wire (Copper Cladded), the prices continue to surge.

The prices of Aluminium Wire experienced a price rise in the first half of June and is currently trending at USD 3632/MT FOB Busan (South Korea) up by 0.8% from the previous month. This rise in prices in South Korea supported by tightness in supplies despite stable but limited demand, justifying rise in prices of Aluminium Wire (Copper Cladded).

In Vietnam, the prices of Aluminium Wire (Copper Cladded) in the first half of June also moved in the positive territory displaying changes of 0.8% to USD 6481/MT, CFR Hai Phong (Vietnam) as compared to prices in May. Recent pact between Foxconn and Nokia to manufacture 5G products, earlier this month shows that the country has become a crucial manufacturing hub for tech giants like Apple which is supported by favorable government policies promoting high-tech investments. The demand for Aluminium Wire (Copper Cladded) in Vietnam is primarily driven by the growing computer applications sector, particularly in Printed Circuit Boards (PCBs). The Vietnamese government's strategic focus on digital economy development and infrastructure underscores its role as a regional hub for high-tech advancements, cementing the prospects for utilization of Aluminium Wire (Copper Cladded) wire.