In Q1 2024, the global copper-clad aluminum wire market saw a notable upward trend, driven by increased demand across several key regions, including China, South Korea, and Vietnam. In China, demand for copper-clad aluminum wire surged due to strong growth in the electrical and telecommunications sectors, particularly following the Lunar New Year. South Korea and Vietnam also experienced rising demand, fueled by robust industrial activities, expanding infrastructure projects, and growth in the automotive sector. The price increase was further supported by tightening supply conditions and higher raw material costs, which led to a price uptick across these key markets.
In Q2 2024, the global copper-clad aluminum wire market witnessed a notable upward trend, particularly in China, South Korea, and Vietnam. The surge was driven by increasing demand across various sectors, including electrical, telecommunications, and automotive industries. In China, domestic consumption grew due to improved infrastructure projects and manufacturing activity, leading to a rise in production and prices of copper-clad aluminum wire. South Korea and Vietnam also saw an uptick in demand, fueled by expanding industrial activities and a shift towards cost-effective alternatives to pure copper wire. This combined regional growth reinforced the global upward momentum, as these markets capitalized on the material’s benefits of lower weight and cost compared to pure copper, while still maintaining reliable electrical conductivity
In Q3 2024, the global copper-clad aluminum wire market experienced a notable decrease in prices, driven primarily by weaker demand and oversupply conditions. China, a major producer of copper-clad aluminum wire, saw a sharp decline in prices due to sluggish industrial activity and reduced demand in key sectors like automotive and construction. Similarly, markets in South Korea and Vietnam followed a downward trend, influenced by reduced purchasing power, high inventory levels, and limited new orders. The combination of these factors led to price drops in these regions, as manufacturers faced challenges from both reduced domestic demand and competition from cheaper imports. The market outlook remained cautious as global economic uncertainties dampened overall consumption.
In Q4 2024, the global copper-clad aluminium (CCA) wire market witnessed a notable upward trend, with significant price increases observed in key regions, including China, South Korea, and Vietnam. China led the charge with a robust demand for CCA wire, particularly driven by growth in the electrical and electronics sectors, as well as increased infrastructure projects. South Korea and Vietnam also saw rising prices, driven by strong domestic demand and expanding manufacturing capabilities in industries such as automotive, telecommunications, and renewable energy.