MM Markets 2025 Copper Substitution Report – Focus on Material Cost

MM Markets 2025 Copper Substitution Report is based on an extensive international survey of copper and aluminium buyers and users. Speaking to a wide range of survey participants enables the best feedback on trends happening now, and trends in the near future. Detailed feedback enables us to precisely update our indicators. Focused on price, the following bullets are extracted from initial survey work in the 2025 Copper Substitution Report.

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Follow this link for increased detail from the MM Markets 2025 Copper Substitution Report: https://mm-markets.com/increased-detail-2025-copper-substitution-report-focus-on-relative-material-cost/

• In today’s business environment, the decision to substitute tends to require a life-time calculation approach.

• For most buyers/users, it makes sense to first investigate the absolute and relative material costs.

• Survey respondents said that material price is mainly driven by macroeconomic factors. Energy transition is the long-term price driver.

• 2024 was a year of political and financial insecurities however Q4 brought some material economic assurances, in some geographic regions.

• Reflecting on the increased material/gauge requirements for aluminium in electrical applications, requirements in order to achieve similar performance, copper is still relatively more expensive. ?

• Historic price development for both copper and aluminium highlights the absolute price difference but also that copper price is relatively more volatile.

• A tracking factor for material decision makers/procurement is development of the price ratio between copper and aluminium.?

• There are applications where increased performance requirements lead buyers and users back to copper.

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