At the 2023 Third SMM Electrical Industry Forum , SMM Copper Senior Analyst Liu Lu conducted an in-depth analysis of the supply and demand situation in the copper plate, strip and copper bus market from 2023 to 2024, and released relevant product price points on the spot.
Supply and demand of China copper plate/sheet and strip market 2023-2024
The output growth rate of the copper plate and strip market has been low in the past three years, but it will still grow steadily with the support of the new energy field.
Copper copper plate/sheet and strip production capacity has grown steadily in recent years, and the new energy market demand is strong. Many companies will expand production in 2024. It is expected that the annual production capacity increase in the copper plate/sheet and strip market will be obvious in 2024.
Under the weak recovery of the domestic economy in 2023, demand from the real estate was depressed, but new energy vehicle battery connectors and other products will have strong support. It is expected that the overall copper plate and strip output will increase slightly in 2023.
Copper strips are widely used in many downstream industries including electronics, electric power, communications, light industry, machinery manufacturing, household appliances, automobiles, construction, national defense, and transportation
The main consumption areas of brass strips are electrical appliances and decoration, which are closely related to the real estate market, and their order volume will shrink significantly in 2023; while the main consumption areas of copper strips are electricity and electronics, with steady demand on the power side and new Energy-side orders have grown steadily.
Supply and demand of China copper busbar market 2023-2024
Domestic copper busbar production shows an upward trend, but the growth rate is gradually slowing down
According to SMM, the output of the copper busbar market has shown a continuous growth trend in recent years. Against the background of weak economic recovery, it is expected that the national copper busbar production will still increase in 2024.
According to SMM statistics, copper busbar production areas are concentrated in the Jiangsu and Zhejiang regions. Favorable policies in Jiangxi have attracted companies that produce large quantities of T3 copper busbars , so they account for a higher proportion.
Copper busbars are mainly used in traditional power systems and are gradually entering the new energy field.
According to SMM research, the construction industry currently accounts for the highest proportion of copper busbar in the field, but this industry will be under greater pressure in 2023, forcing a reduction in processing fees.
The demand for copper busbar in the new energy field has emerged, but the demand increase in 2024 will be lower than that in 2023. But its subsequent development space is large.
