Copper Rally Boosts Domestic Cable Makers' Earnings
Copper prices have hit their highest level since May 13 this year, reaching $14,103.50 per ton on the London Metal Exchange (LME) as of last week.
The surge in copper prices has lifted cable makers, with domestic manufacturers expecting a rise in revenue and improved earnings due to the link between copper and cable prices.
Cable products use copper as a key raw material, so when copper prices increase, selling prices for cables also rise.
Demand for extra-high-voltage cables and distribution cables is growing rapidly, driven by investment in AI data centers and power grid expansion.
Earnings are improving at major cable makers such as LS Cable & System and Taihan Cable & Solution, with analysts expecting stable growth to continue in the second half of the year.