Copper Wire Pricing witnessed an unprecedented surge in the third quarter of 2022 as the inquiries were stronger than expected from the end-users in the US market. According to market participants, the US rate hike could boost the dollar, but it retreated, making dollar-denominated metals cheaper for holders of other currencies, potentially increasing demand. Copper stocks in LME registered warehouses also supported prices and had canceled warrants (metal earmarked for delivery), which have been at 28% versus 18% at the start of August. Copper Wire prices rose due to the ripple effect of limited availability of raw material Copper Ingot in the face of falling dollar rates and recessionary fears.

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