Record Copper Prices Boost South Korean Non-Ferrous Metal Companies

Copper prices have surged to record highs, driving South Korean non-ferrous metal material companies to profitability in the second quarter. The average spot copper price on the London Metal Exchange for the first half reached $13,088 per ton, up 39% year-over-year.

The sharp rise in copper prices is attributed to a combination of factors, including rising power infrastructure demand driven by AI data center expansion and supply disruptions in major producing countries such as Chile and Indonesia. As international copper prices soared to all-time highs, South Korean non-ferrous metal material companies whose selling prices are tied to copper market rates have successively achieved earnings turnarounds.

KBI Metal posted second-quarter standalone revenue of 214.4 billion won (approximately $153.7 million), up 11% year-over-year. Operating profit swung from a 2.2 billion won loss to a 9 billion won profit (approximately $6.5 million). Higher selling prices in its metal business division drove the improvement.