Copper Wire Prices Online
North America
In the final quarter of 2022, Copper Wire prices showcased a rising trend in the North American market owing to the rising interest rates and inflationary pressure. Copper prices fluctuated due to fears of a global recession as inflation in North America reached double digits in Q4. In October, the supply outlook remained bleak, as lower prices were insufficient to stimulate new manufacturing investment. Copper prices rose in the middle of the fourth quarter as investors proclaimed that central banks would slow the pace of interest rate hikes. Smelter transactions, on the other hand, increased in December as a result of replenishment requirements following supply issues, as well as slow discussions of annual term contracts, which increased demand for spot cargoes. The copper wire market remained uncertain amid global conflicts and the US midterm elections in the absence of any changes in the base metals that indicated a continuation of sideways movement. According to buyers, the physical trade has been extremely quiet and will remain so until the end of the year.
Asia Pacific
Copper Wire prices in the Chinese market in the fourth quarter of 2022 despite easing macroeconomic pressures, with solid support from both the supply and demand sides. In October, China’s supply of copper concentrate was becoming increasingly scarce, and downstream enterprises were still concerned about high prices and weak terminal procurement, limiting the rise in copper prices even further. Consumers were becoming reluctant to support rising prices, and the supply-demand gap widened in the fourth quarter. The market’s inventory remained low, driving up prices. Furthermore, the LME refused to impose delivery restrictions on Russian metal, lowering the risk of a market-position squeeze. Following the relaxation of China’s pandemic control measures at the end of the fourth quarter, market participants became increasingly concerned about the demand outlook.
Europe
In the German market, the Copper Wire prices showcased an upward price trend in the fourth quarter of 2022 due to a combination of factors such as US dollar movement, China’s zero-covid policies, persistent supply-side issues, and an uncertain macroeconomic outlook amid rising inflation and interest rates. Despite production issues in the middle of the fourth quarter, the threatened supply situation was not reflected in Copper Plate prices. As lower prices did not stimulate enough new production, the supply outlook remained bleak. Copper Wire prices were expected to be volatile if Western nations or the London Metal Exchange imposed restrictions on Russian-produced metal. The LME, on the other hand, did not impose a ban on Russian-origin products. Furthermore, global copper stocks fell to record lows, with current inventories only sufficient to meet global demand for a few days and shortage risks that did not reflect the tightness of the physical market.
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