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Copper Rod Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Copper Rod in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Copper Rod Price Trend for the October - December of 2023
During Q4 of 2023, the copper rod price trend in Asia witnessed some minimal fluctuations on a month-on-month basis. Some of the key sectors fueled the rates of consumption, such as electronics, communications, and aerospace industries, which helped in maintaining a delicate balance between supply and demand for the majority of the quarter. However, it was not a smooth sailing journey for the copper rod price trend as a rise in domestic production, lower reliance on imports, and a slow rise in demand stimulated some ripples in the copper rod price trend.
In Europe, copper rod prices exhibited some improvement in the fourth quarter of 2023 as compared to the previous ones. The soaring rates of inflation raised the cost of production of copper rods and, in turn, its price trend. However, the effect of inflation and rising interest rates had an adverse effect on consumer spending due to which the market failed to achieve its projected growth.
The rise in uncertainties in the cost of crude oil towards the end of the fourth quarter had a negative impact on the industrial sector of North America. However, the region was able to experience some stability in its copper rods price trend as domestic and overseas demand showed signs of improvement. The consumer sector only wavered on account of rising concerns over the decline in the currency rates and lower export units of copper rods amid the Panama Canal struggles.
According to Procurement Resource, the price trend of Copper Rod are estimated to be driven by downstream automotive and industrial demand. However, the trajectory of the global economy and the supply-demand curve will also play a pivotal role in determining copper rod prices.
Copper Rod Price Trend for the July-September of 2023
The copper rod market in the Asian region mostly experienced short range fluctuations during the third quarter of the year 2023. Since the consumption sector mostly involves electronics, communications, aerospace, automotive, and other manufacturing sectors, the downstream demands are usually high.
A compatible supply and demand dynamic was maintained and was observed for the majority of the said period of Q3’23. Even though the middle of the quarter was met by a little widened disparity between copper rod availability and consumption, the general market outlook was majorly uninterrupted. An almost plateaued price graph was observed for copper rods during the discussed span of three months.
The European copper rod price analysis of the concerned timeline suggests that the trend from the Asian region were almost mimicked in the former region. Largely because a major chunk of the European manufacturing industry demands is outsourced from Asian countries. and other than that, the prominent downward fluctuations were attributed to the diminished end consumer demands amidst high rising inflation rates. A moderate to low, wavering price graph was observed, and general market sentiments were indifferent.
The copper rod industry in North America struggled because of the gloomy economic situation in the region. Market demands from the downstream consuming sector, though fluctuating, were consistent. Suppliers, however, dealt with the very frequent price adjustments with wavering inflation. Overall, fluctuating market fundamentals were observed during the said period.
According to Procurement Resource, copper rod prices are likely to fluctuate in the coming months. The global economic turnout will play a key role in determining the copper rod price curve.
Copper Rod Price Trend for the First Half of 2023
The price trend of copper rods saw positive growth as the availability of the product in the market remained constrained. The demand from the downstream industries and rising processing sectors supported the growth of the copper rods market and, in turn, its price trend in the first quarter. In the second quarter also, the falling levels of inventories and lower production rates widened the gap between supply and demand equilibria that helped the price trend of copper rods to rise in the Asia Pacific market.
In Europe, the price trend of copper rods witnessed a surge in the first quarter as the market was backed by rising demand from downstream industries and delays in shipments. The second quarter, however, was stagnant due to the improvement of the US dollar with respect to the Euro.
The consumption rates and demand only supported the prices of copper rods in the first half of the second quarter as soon as the trend started to tumble. The struggling European economy and recession-like phase in German markets caused the demand for copper rods to take slump, which eventually had a negative effect on its price trend.
The slow production rates in the first quarter of 2023 deteriorated the inventories and led to the price of copper rods surging. The demand from several industries and high inflation and interest rates had initially had a positive influence on the copper rods market. In the second quarter, the financial conditions of the North American market struggled due to the steep fall in the banking sector that put a pause on the rising trajectory of the copper rods price trend.
According to Procurement Resource, the price trend of Copper Rods is estimated to depict an oscillating trend as the high demand for copper rods is countered by the rising inflation rates and global economic backlash.
Procurement Resource provides latest prices of Copper Rod. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
When molten copper metal is drawn into solid cylindrical pipes, then it forms copper rods. These rods have outstanding thermal and electrical conductivities. These rods come in various diameters and lengths and are utilized across industries for their versatile applications. From serving as electrical conductors and components in power transmission, electronics, and manufacturing machinery to being integral components in heat exchangers, plumbing systems, and artistic creations, copper rods play a pivotal role due to their conductivity, malleability, and resistance to corrosion.
|Electrical conductors, Renewable energy, Aerospace applications, Electronics, Telecommunications, Automotive radiators, Heat exchangers
|Bajoria Group, SUMITOMO ELECTRIC, AURUBIS, Liljedahl Group, TDT Copper, Kobay Metal, Mitsubishi Materials
|Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|US$ (Data can also be provided in local currency)
|Supplier Database Availability
|The report can be customized as per the requirements of the customer
|Post-Sale Analyst Support
|360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The cautious melting of copper in a cathode shaft furnace and then subsequent transfer of the molten materials through channels into casting machine. In this procedure, the copper in molten state is casted into rods of required thickness.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103