In mid-December, Copper Rod prices in Asia experienced a significant increase, driven by a combination of market forces and industry developments. One of the primary factors contributing to the price surge was the depletion of Copper Rod inventories, which created a sense of urgency among buyers to secure supply. Simultaneously, demand from downstream industries saw a notable uptick, further intensifying competition for available stock. Adding to the upward pressure on prices was a rise in freight rates along intra-Asia shipping routes. The higher transportation costs were passed down the supply chain, directly influencing the overall market price of Copper Rod.

During this period, Vietnam experienced a 0.4% increase in prices, with the Copper Rod market witnessing a significant rise due to rising demand from industrial sectors. The Vietnam Automobile Manufacturers Association (VAMA) reported a substantial 14% month-on-month increase in vehicle sales, reaching 44,200 units in November, which directly bolstered Copper Rod demand. A landmark development came with NVIDIA's strategic engagement, signing a Memorandum of Understanding with Vietnam's Ministry of Planning and Investment to establish two advanced AI centers. The Vietnam Research and Development Center (VRDC), NVIDIA's third global AI research hub, and a planned AI Data Center are expected to further stimulate technological infrastructure and, consequently, Copper Rod consumption. Speculative purchases and market positioning towards year-end contributed to the upward price trajectory, reflecting growing confidence in the Vietnamese industrial landscape.

In China, Copper Rod prices experienced a more pronounced increase of 1.3%, influenced by strategic industrial negotiations. The Shanghai Futures Exchange (SHFE) reported a 10% decline in inventories in the week, further supporting price dynamics. China's announcement of a more accommodative monetary policy and a robust fiscal approach for the upcoming year injected additional market optimism. The relatively stable dollar and anticipated Federal Reserve interest rate reductions created a positive trading environment. Additionally, a pivotal agreement between Chilean mining companies Antofagasta and Jiangxi Copper to reduce copper concentrate processing fees in 2025 highlighted potential supply constraints.  These macroeconomic factors, combined with strategic industrial positioning, drove Copper Rod prices higher and signaled potential market expansion.

The broader Asian market context revealed additional complexity, with major ports experiencing significant congestion ahead of the Lunar New Year. Unfavorable weather conditions and cargo surges led to extended berthing delays, with some vessels waiting up to a week. The consequent spike in freight rates contributed to increased Copper Rod prices in importing countries, impacting regional trade dynamics.

With the festive season on the horizon, the market is set to experience a notable influence on Copper Rod pricing. The impending winter celebrations coupled with technological advancements in Asian countries, suggest a buoyant future for the Copper Rod industry. ChemAnalyst anticipates a continued expansion in the Copper Rod sector, with expectation of sustained price increases.