Copper Market in 2025 and supplying products, purchasing scrap by Moraum

The copper market in 2024 experienced significant volatility, with prices ultimately trending upward. LME, SHFE, and SMM #1 copper cathode all saw annual increases, although not as dramatic as precious metals. Driven by macroeconomic optimism, supply concerns, AI-driven demand, and market squeezes, copper futures reached record highs in May 2024. However, the substantial price fluctuations posed challenges for downstream consumption. As we enter 2025, the market anticipates continued upward momentum. The key question is: which factors—macroeconomics, inventory, or supply—will dominate the copper market this year?

2024 Market Overview:

• Price Performance:
  • LME Copper: +2.6%
  • SHFE Copper: +6.96%
  • SMM #1 Copper Cathode: +6.59%
• Volatility: SHFE copper prices fluctuated between 88,940 yuan/mt and 67,380 yuan/mt, a difference of 21,560 yuan/mt.
• Key Drivers: Macroeconomic optimism, tight ore supply expectations, potential production cuts, AI demand, and COMEX short squeezes.

2025 Market Outlook from Major Analysts:

• ANZ:
  • Expects supply challenges to persist.
  • Forecasts demand growth of 3.5% YoY to 28 million mt.
  • Predicts a market supply deficit of 500,000 mt (2% of annual demand).
• BMI (Fitch Solutions):
  • Revised 2024 average price forecast to $10,000/mt.
  • Cites bearish sentiment from a hawkish US Fed and potential tariffs.
  • Expects demand growth of 2.5% in 2024 and 3.6% in 2025.
  • Long-term forecast: $17,000/mt by 2033 due to the green transition.
• Citi:
  • Maintains a neutral to bearish rating.
  • Forecasts copper prices to fall to $8,500/mt within three months.
• Commerzbank:
  • Predicts copper prices to rise to $9,700/mt by the end of 2025.
• JPMorgan:
  • Bullish medium-term outlook for copper and aluminum.
  • Expects a V-shaped recovery in late 2025.
  • Forecasts Q4 2025 copper prices to rebound to $10,400/mt.

Moraum GmbH’s Role:

• Moraum GmbH trades all copper-related products and recycled materials.
• The company provides competitive pricing within Europe.

In addition to supplying products, Moraum purchases recyclable waste to convert it into new products.

Especially looking for Molybdenum waste catalyst as earliest as possible.

Moraum looking for collaborate Partner – contact: project@moraum.com

Have a great day.