Global Copper Plate Prices Rebounding to Higher Levels Amidst Rising Feedstock Costs

In the week ending March 24, 2023, the Copper Plate prices witnessed a surge of more than 2.5% in the global market owing to the financial turmoil in the banking industry amidst the cautious trading activity. In terms of consumption, market participants claim that Copper Plate buyers are still amending their purchase volume in response to soaring in the feedstock Copper price. On the macroeconomic front, the  US Federal Reserve is on the verge of halting interest rate hikes, while the Swiss National Bank and the Bank of England have augmented rate hikes. According to major participants, the falling US dollar index has raised Copper Plate prices. Broadly, there has been a recent rise in the loss of imported raw copper, which has decreased the supply of imported copper plates on the world market. The loss in the import market has alleviated some sellers' concerns. As a result, Copper Plate prices increased while downstream enterprises' purchasing interest diminished.

According to our sources, the Euro and the Pound fell dramatically last week as the market remained worried about the banking crunch. European banking stocks fell, led by banking titans Deutsche Bank and UBS, as the US dollar index badge on concerns that the sector's worst problems since the 2008 financial crisis have yet to be resolved. Low arrival volume resulted in comparatively low downstream stockpiling volume and decreased overall inventories of Copper Plates. Copper Plate traders predicted that interest in downstream procurement would be low at the end of the month. Copper prices are currently resuming their upward trend as they did in early Q1 2023. As the downstream inquiries from the automobile and construction segments are low, Copper Plate prices are expected to be supported and fluctuate within a narrow range.

The US and European governments' clean energy industrial policies, which rely on electrification, have driven up the price of the Copper Plate. In order to maintain a new Copper supply with declining grades, mining players claim that extracting and processing copper is progressively getting more difficult. Depleted inventories also caused commodity prices to become volatile, and a sudden price increase made it difficult for producers, traders, and consumers to come up with the money needed to pay margins and prevent a liquidity crunch. As a result, despite a slow recovery in the demand outlook, ChemAnalyst anticipates that Copper Plate prices will remain elevated. As the US index continues to fall, Copper Plate prices will remain rangebound at highs. The challenges of creating new decarbonized mines meant that the prices of Copper Plates were ensured to rise quickly.