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JapanQ1 2025
In Q1 2025, copper cathode prices witnessed a marginal decline of $9,369 per metric ton, Ex Shanghai marking a 0.70% decrease compared to the previous quarter. The downward pressure was largely a result of easing demand from key downstream sectors, such as electronics and electrical manufacturing, particularly in Asia and Europe. Despite ongoing tightness in raw material availability, a slowdown in industrial activity and subdued buying sentiment, especially in China, contributed to the price dip. Additionally, a stronger US dollar and cautious investor behavior amid mixed macroeconomic indicators further weighed on market sentiment, keeping prices under mild pressure throughout the quarter.
Q4 2024
In Q4 2024, copper cathode prices recorded a modest increase of $9,436 per metric ton, Ex Shanghai representing a 0.70% rise from the previous quarter. This uptick was driven by a rebound in industrial production across major economies, particularly in North America and South Asia, where demand from the electrical and construction sectors saw improvement. Global supply chain constraints, including delayed shipments and reduced output in key producing countries, supported the bullish price trend. Positive investor sentiment and expectations of infrastructure-led growth also played a role in lifting copper cathode prices during the quarter.
Q3 2024
In Q3 2024, copper cathode prices experienced a sharp decline of $9,371 per metric ton, Ex Shanghai reflecting a 2.89% drop compared to Q2. The price retreat was primarily due to weakened demand from the electronics and manufacturing sectors amid rising global economic uncertainty. High inventory levels, particularly in Chinese ports, and slower-than-expected recovery in construction activity further dampened buying interest. A dip in speculative trading volumes and reduced industrial output contributed to a more bearish outlook, leading to widespread caution in the copper cathode market.
Q2 2024
During Q2 2024, the copper cathode market saw a significant price rally, with prices surging by $9,650 per metric ton, Ex Shanghai a sharp 14.45% increase over the previous quarter. This strong upward movement was attributed to robust demand growth from the renewable energy and automotive sectors, both of which rely heavily on copper cathodes. Supply-side constraints—stemming from maintenance shutdowns in smelting facilities and restricted mining output—tightened availability. The global transition toward electrification and increased investment in grid infrastructure added further momentum to the bullish pricing environment.
Q1 2024
In Q1 2024, copper cathode prices saw a notable increase of $8,432 per metric ton, Ex Shanghai marking a 3.20% rise from the previous quarter. This upward trajectory was driven by healthy demand recovery across major end-use industries, especially in electric vehicle manufacturing and power infrastructure. Supply limitations caused by delayed shipments and tight mine feedstock availability also contributed to the upward pressure on prices. Additionally, the improving global economic outlook and supportive commodity investment sentiment provided further buoyancy to the copper cathode market during the quarter.
Q1 2025
In the first quarter of 2025, the Indian copper cathode market experienced a steady rise, with prices increasing by $9,833 per metric ton Ex-Bhiwandi, marking a 2.08% increase compared to the previous quarter. The upward trend was primarily supported by strong domestic demand from the electrical and cable manufacturing industries, coupled with ongoing infrastructure developments. Additionally, tighter global cathode supply, impacted by smelter maintenance shutdowns and logistic bottlenecks, contributed to the price hike. Investor optimism and stable economic indicators further reinforced market sentiment, sustaining the positive pricing momentum.
Q4 2024
In Q4 2024, copper cathode prices in India saw a $9,633 per metric ton increase, Ex-Bhiwandi equating to a 1.36% rise quarter-over-quarter. The uptick was fueled by improved purchasing activity from downstream sectors including electronics, power infrastructure, and renewable energy. Global cathode market tightening, coupled with reduced warehouse stocks and firm LME prices, added upward pressure on Indian import and domestic prices. The market remained optimistic as year-end industrial activity held firm and procurement volumes stayed healthy, reflecting confidence in the demand outlook.
Q3 2024
During Q3 2024, the Indian copper cathode market registered a notable downturn, with prices dropping by $9,505 per metric ton Ex-Bhiwandi, representing a 5.08% decline compared to the previous quarter. This decrease was largely due to softened demand across electrical and industrial applications, as well as elevated inventory levels. Global market headwinds, including economic slowdown and trade uncertainties, weighed heavily on buyer sentiment. Additionally, a temporary recovery in cathode supply across global smelting hubs contributed to easing price levels during the quarter.
Q2 2024
In Q2 2024, India’s copper cathode market experienced a significant surge, with prices climbing by $10,013 per metric ton Ex-Bhiwandi, a sharp 17.22% increase from Q1 2024. The steep rise was driven by a strong rebound in industrial activity, particularly in the power transmission and automotive sectors. Supply-side constraints, including reduced smelter output and global logistical issues, created tight market conditions. The surge in demand for renewable energy projects and large-scale electrification initiatives further added to upward price momentum, making cathode one of the most sought-after copper products during the quarter.
Q1 2024
In the first quarter of 2024, the Indian copper cathode market saw a moderate yet steady price increase of $8,542 per metric ton, Ex-Bhiwandi marking a 1.39% rise from the previous quarter. The price movement was underpinned by recovering demand from construction, electrical infrastructure, and manufacturing segments. Global cues, including tightening inventories and a gradual rise in raw copper ore prices, also influenced local pricing. A stable economic recovery and positive industrial output indicators helped keep buying interest, supporting the modest upward trend.
PriceWatch is your trusted resource for tracking global copper cathode price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the copper cathode market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence copper cathode prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely copper cathode market data.
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Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Copper cathode is a flat, rectangular-shaped product consisting of high-purity, electrolytically refined copper (typically 99.99% Cu minimum), and it serves as a primary raw material for manufacturing a wide array of copper products. Produced via electrorefining or electro-winning processes, copper cathodes are used across multiple industrial applications due to their superior electrical conductivity and malleability. These cathodes are typically bundled in sheets or strapped in bundles for shipping and handling.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Copper Content (% min) | 99.99 (LME Grade A) |
| Oxygen Content (%) | ≤ 0.03 |
| Electrical Conductivity (% IACS) | ≥ 100 |
| Density (g/cm³) | 8.96 |
| Melting Point (°C) | ~1085 |
| Thickness (mm) | 8 – 12 |
| Width × Length (mm) | 914 × 914 (approx.) |
| Surface Finish | Clean, smooth surface; oxide-free |
| Weight per Sheet (kg) | ~100 |
| Bundle Weight | ~2,500 MT (25 sheets per bundle) |
| Weldability | Excellent |
| Corrosion Resistance | High |
| Thermal Conductivity (W/m·K) | ~390 |
Applications
Copper cathode prices are driven by:
Global demand-supply dynamics
Copper mining and smelting activity
LME (London Metal Exchange) benchmark pricing
Input costs such as electricity and sulfuric acid
Geopolitical risks and trade policies
Macroeconomic trends (GDP growth, inflation)
Copper cathodes are produced from copper concentrates and scrap. Fluctuations in copper ore or concentrate prices directly influence cathode production costs. Higher feedstock costs generally push cathode prices upward.
Copper cathodes are foundational to infrastructure, energy, and electronics. When prices rise, the costs of downstream products like wiring, vehicles, and appliances also increase, contributing to inflation across multiple sectors.
PriceWatch offers:
Real-time cathode pricing and trend analysis
Market outlook reports
Risk insights based on global events and policies
Weekly pricing assessments and procurement intelligence tools
Some of the key benefits of using PriceWatch include:
Real-time Data: Access to up-to-date market intelligence and data on commodity supply chains.
Expert Analysis: Insights from industry experts to interpret market trends and identify potential risks.
Risk Assessment: Tools to assess supply chain vulnerabilities and develop mitigation strategies.
Benchmarking: Comparisons of commodity prices and sourcing practices to optimize procurement decisions.
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