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Copper LME steady at £ 6.99/kg as stocks climb to 320kT

Flexible Round Copper Braid

The price of copper appears to be stabalising at £7/kg after fluctuating between £6.6/kg and £7.8kg but LME bonded stocks continue to rise from 100kt to over 300 kT in the last 3 months, which is the highest stocks have been in the last 5 years.

Unless demand picks up to balance supply and demand the price of copper has to fall further as distributors run out of space and cash to store copper.

This is putting copper producers in a difficult position as costs rise and pressure increases to cancel new capacity projects and shut down less productive sites.

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Coper price steady, for now !

The price of copper has held remarkably steady for the last few months but that should change over the next few months as LME stocks have fallen to 139 kT.

Falling stock prices will put upward pressure on the price of copper, especially if it drops below 100 kT.

Antofagasta has reported “We have delivered a year of robust operational performance in 2023, with production increasing by 2% and net cash costs in line year-on-year” showing their emphasis on cost control rather than output.

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Copper price drifts downwards to GBP6.46 / kg

The LME price of copper continues to drift downwards while LME bonded copper stocks marginally increased to £187 kT.

Difficult to know the impact of the Hamas / Israel conflict on the price of copper. I hope that peace makers prevail and that diplomacy takes over before the conflict escalates and spreads to other counties.

Meanwhile the Russia / Ukraine conflict drags on with neither side being able to make a breakthrough or backing down.

China has it’s own problems with real estate deb and subdued export demand.

However, our world still needs to press on with de carbonising which will need many tons of copper.

Metal stockists appear to be willing to hold stock in expectation of increased demand.

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Copper LME jumps to £7.49 as stocks fall to 76 kT

With China opening up after Covid and both USA and Europe trying to electrify demand for copper is outstripping supply forcing prices to jump back up to where they were at the beginning of last year and likely to keep going.

High interest rates are putting pressure on stock holders to reduce stock levels which will make the copper market increasingly unstable and subject to wild fluctuations.

The only way demand is going to be restricted now is if the increasing price forces buyers out of the market. Major infrastructure projects will become increasingly expensive and difficult to fund.

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1200mm2 Copper Braid busbar 50mm wide

Braid busbar 1200mm2x50
Braid busbar 1200mm2x50
Braid busbar 1300mm2x50 side
Braid busbar 1300mm2x50 side

This busbar is made from 12 layers of 100 mm copper braid. The current rating depends on installation conditions but will be between 2400 Amps and 3000 Amps (1000 to 1200 KVA on a 415 Volt system)

This type of flexible busbar is used to connect busducts to transformers, standby power generators and alternators, where there is thermal expansion and / or vibration.

We have many years of experience in the design and manufacture of this type of product on short lead times. Please contact us for more information.

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A message from Disasters Emergency Committee (DEC):

Thank you for supporting the DEC. In doing so, you are supporting all of our 15 Member Charities to deliver life-saving aid. The DEC only launches appeals for the most severe humanitarian crises and in partnership with our key broadcaster partners who include the BBC and ITN. We therefore wish to thank you for being a part of the UK’s national response to the world’s most critical emergencies and disasters.

Together we have donated £400 in July.