Copper Wire Price Trend and Forecast

Regional Price Trend

Get the latest insights on price movement and trend analysis of Copper Wire in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Copper Wire Price Trend for the First Half of 2023

Asia

In Asia Pacific, the cost of copper wires surged in the first quarter of 2023 as the market sentiments remained positive throughout the quarter. The rise in the price trend was a direct result of the high number of downstream inquiries and low production due to the onset of Spring festival break.

In addition to this, the policies adopted by the government in the second quarter also supported the rise in the production cost and, in turn, the price trend of copper wires. However, the sliding global economic conditions, a ban on Chinese commodities in European nations, and slow consumption of the product caused it to be a problem in the latter half of the second quarter.

Europe

The copper wires demand in the European nations surged in the first quarter of 2023, and the rise in the feedstock prices also positively influenced the price trend of copper wires. The banking crises in Europe depreciated the value of copper in international markets and thus led to a hike in new orders of copper wires.

In the second quarter, the rising price trend of copper wires stabilized as the demand and supply sectors settled at equilibrium due to the wait-and-see approach adopted by the majority of consumers. In addition to this, the rising rates of inflation and declining economic conditions in the global market also negatively affected the price trend of copper wires.

North America

The North American market of copper wires was under pressure of hikes in interest rates and inflation that was caused by the failure of two major Silicon Valley banks. The first half of the first quarter was still supported by consistent demand, but later on, the demand from end-user industries declined with the low rates of consumption.

There was stability in the prices of copper wires in the first half of the second quarter, but soon the uncertainties in the economic conditions of the North American region and debt crises caused the consumers to reduce their buying capacities and, in turn, hampered the price trend of copper wires.

Analyst Insight

According to Procurement Resource, the price trend of Copper Wire is estimated to showcase a mixed pattern as the consumption rates and demand from the downstream industries do not seem to support the rise in prices.

Procurement Resource provides latest prices of Copper Wire. 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.