In Q1 2024, copper plate prices saw an upward trend across major global markets, driven by a combination of strong demand and tighter supply conditions. China, a key player in the copper market, experienced a notable increase in copper plate prices, fueled by a rebound in industrial activity and a rise in domestic demand, particularly in the automotive and electrical sectors. Concurrently, the USA, UK, and India also saw price increases, albeit at varying degrees, reflecting robust demand from construction, electrical, and manufacturing industries. The USA and UK saw a gradual rise in prices, supported by tight inventories and steady demand for copper plate in infrastructure and industrial applications. India, meanwhile, witnessed a more pronounced increase, driven by a surge in demand for copper in electrical and construction projects.
In Q2 2024, the global copper plate market experienced a mixed but generally upward trend. China saw an increase in copper plate prices driven by stronger industrial demand and a recovery in construction and manufacturing sectors. Similarly, the USA, UK, and India also witnessed rising prices, supported by growing demand across various industries including automotive, electronics, and infrastructure. In the USA, price hikes were fueled by the increased activity in the energy and manufacturing sectors, while in the UK, demand for copper plate in construction and electrical applications led to price growth. India saw a modest increase as well, attributed to heightened demand for copper in electrical and industrial uses. These combined increases across key regions reflect tightening supply conditions and robust demand recovery post-pandemic, although global market uncertainties remain a concern.
In Q3 2024, the global copper plate market experienced a general decline, with prices showing decreasing trends across major regions. In China, copper plate prices dropped due to weaker domestic demand and slower industrial activity, particularly in construction and manufacturing sectors. Similarly, prices in India, the USA, and the UK followed a downward trajectory, driven by surplus supply, reduced consumer demand, and a slowdown in key industries such as automotive and electronics. Weakening economic conditions, along with high inventory levels, led to a reduction in buying activity, further contributing to the price decrease in these regions. As a result, global copper plate prices reflected a cautious market sentiment, with buyers adopting a wait-and-see approach amid economic uncertainties.
In Q4 2024, the global copper plate market experienced a notable upward trend, with significant price increases across multiple regions. In China, copper plate prices saw a steady rise due to higher demand from the industrial and construction sectors, as well as tightening supply. Similarly, prices in India, the USA, and the UK exhibited a consistent upward trajectory, fueled by growing demand for copper plate in applications such as electrical conductors, heat exchangers, and machinery components. In the USA and UK, strong infrastructure projects and increased manufacturing activities supported price hikes, while in India, robust demand for copper plate in the electrical and automotive industries drove the upward movement. Overall, the market saw a positive shift as global supply-demand dynamics tightened, leading to price increases across key markets.
