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.
For the Quarter Ending March 2024
North America
The pricing environment for Copper Plate in the North America region during Q1 2024 was characterized by a consistent decrease in prices. Several factors contributed to this downward trend. Firstly, there was an abundance of available inventories in the spot market, leading to a surplus of supply.
Additionally, the strength of the US dollar exerted downward pressure on prices. Furthermore, market confidence was dampened by a court decision approving a land swap for a major copper mine, creating uncertainty among buyers, and resulting in cautious purchasing behaviours. The quarter-ending price for Copper Plate (C 11000) DEL Alabama in the USA was recorded at USD 13420/MT, reflecting the overall decreasing sentiment in the market.
In summary, the pricing environment for Copper Plate in the North America region during Q1 2024 was negative, with prices experiencing a consistent decrease. Factors such as surplus supply, the strength of the US dollar, and market uncertainty contributed to this downward trend. The United States saw significant price declines compared to both the previous quarter and the same quarter last year.
APAC
The first quarter of 2024 has been relatively stable for Copper Plate pricing in the APAC region. Significant factors influencing market prices include the demand from downstream sectors, supply levels, economic uncertainties, and government initiatives. Overall, the pricing environment has been stabled with moderate demand and supply. In Japan, decrease in prices of copper plate can be attributed to reduced demand from the automotive industry, intensified competition from China, and a decline in Japan's manufacturing purchasing managers' index. However, companies like Toyota and other members of the Japan Automobile Manufacturers Association continue to innovate in the electric vehicle and alternative powertrain sectors. In terms of seasonality, the first half of the quarter saw stable prices, while the second half experienced a slight decline of 0.5%. This decline can be attributed to economic uncertainties affecting purchases from Europe and the USA, leading to increased supply in the Japanese spot market. Overall, the pricing environment for Copper Plate in Japan during the first quarter of 2024 has been stable, with moderate demand and high supply levels. The latest quarter-ending price for Copper Plate (H 3100) Ex Osaka in Japan is USD 11853/MT.
Europe
In Q1 2024, the European market for Copper Plate experienced an overall positive pricing environment, with prices increasing steadily throughout the quarter. Several factors influenced market prices during this period. Firstly, there was a surge in demand from various industries, such as automotive and construction, which drove up prices. Additionally, the ongoing global economic recovery and increased infrastructure spending contributed to the increased demand for copper, further supporting the upward trend in prices. Germany witnessed significant price changes for Copper Plate during this quarter. The country experienced a strong rebound in its automotive sector, leading to a surge in demand for copper. This, coupled with improved construction activity, resulted in a higher demand-supply gap, which pushed prices higher. Overall, the pricing trend for Copper Plate in Q1 2024 exhibited a positive correlation with improving market conditions. As the quarter ended, the price of Copper Plate (CW008A-1 mm) FD-Drolshagen in Germany stood at USD 13665/MT. This reflects the overall positive pricing environment and the increasing demand for copper in the European region.
For the Quarter Ending December 2023
North America
The North American Copper Plate market navigated the fourth quarter of 2023 with a resilient steadiness, exhibiting minimal fluctuations. Market demand remained stable, showcasing the industry's resilience amidst evolving economic conditions. Despite external challenges, the supply chain demonstrated robust adaptability, contributing to the overall market equilibrium. Geopolitical considerations introduced an element of caution but did not disrupt the underlying stability.
The United States played a pivotal role, maintaining a strategic balance in pricing dynamics with a marginal -2% quarter-on-quarter adjustment. This minor percentage change underscored the market's ability to withstand external pressures and maintain a consistent trajectory.
As the quarter concluded, Copper Plate (C 11000) DEL Alabama in the USA stood at USD 16,732/MT, reflecting the market's steadfastness amid minimal adjustments. This summary offers a nuanced perspective on the North American Copper Plate market, emphasizing its resilience and stability during the closing quarter of 2023.
APAC
The fourth quarter of 2023 unfolded with distinctive dynamics in the APAC Copper Plate market, marked by three key factors shaping pricing intricacies. First and foremost, market demand witnessed a nuanced ebb, moderating overall pricing trends. Secondly, logistical challenges in the supply chain heightened pricing pressures, disrupting the delicate equilibrium. Lastly, geopolitical uncertainties introduced an element of unpredictability, further influencing pricing dynamics. Amidst these intricacies, Japan emerged as a focal point, experiencing significant price fluctuations. A comprehensive analysis of Japan's market revealed notable trends. Top reasons behind these shifts encompassed fluctuating demand, supply chain challenges, and geopolitical influences. As the quarter concluded, encapsulating the intricate dance of market forces, geopolitical intricacies, and industrial demands, encapsulating intricate market nuances and geopolitical influences, providing a comprehensive snapshot of the Q4, 2023 Copper Plate pricing landscape in the APAC region.
Europe
The fourth quarter of 2023 unfolded a distinctive narrative in the European Copper Plate pricing arena, marked by nuanced dynamics that reverberated throughout the market. Concurrently, an unprecedented surge in demand fueled by expansive infrastructure projects and robust manufacturing activities exerted considerable influence on pricing dynamics. Within this intricate tapestry, Germany emerged as a pivotal player, navigating notable fluctuations fueled by heightened demand, geopolitical recalibrations, and supply intricacies. A closer examination of the year-on-year scenario revealed a 4% shift, a testament to the market's adaptability amid evolving conditions. Quarter-on-quarter dynamics portrayed a -5% adjustment, reflecting the dynamic nature of market forces. Delving into the halves of the quarter unearthed a 6% differentiation, shedding light on temporal market shifts. The paramount reasons underpinning these fluctuations included disruptions in the supply chain, escalating demand pressures, and geopolitical uncertainties, offering a multifaceted understanding. As the quarter reached its denouement, the pricing denouement materialized with Copper Plate (CW008A-1 mm) FD-Drolshagen in Germany standing at USD 13,307/MT. This figure encapsulates the intricate dance of market forces, geopolitical intricacies, and industrial demands, providing a comprehensive glimpse into the European Copper Plate pricing landscape in the closing quarter of 2023.
