In January 2021, the London Metal Exchange recorded its highest copper prices since 2011.
One of the reasons why copper prices have risen is the expansion of renewable energy and electric vehicles markets. Another reason is the supply crunch of copper concentrates – the result of mine shutdowns caused by the COVID-19 pandemic.
According to forecasts, the supply shortage combined with the rising demand will keep copper prices high in the next quarter. Therefore we can expect an increase, especially in PV cables’ price as their main component is copper. The price increase will affect everyone in the PV market: from manufacturers and distributors to installers and end customers.