In July 2026, LME copper prices fluctuate at a high level around USD 13,400 per ton. Tight copper mine supply and continuous inventory destocking keep copper raw materials costly, with no sharp price decline expected in the short term. Copper busbars and wiring harnesses account for over 30% of total costs of low-voltage switchgears, squeezing profit margins of panel manufacturers worldwide.To cope with persistent high copper prices, vehicle manufacturers and electrical panel builders globally accelerate aluminum substitution solutions. Brands including BMW and Tesla widely adopt aluminum wiring harnesses to cut material costs and realize lightweight design. The low-voltage industry also launches cost-control measures: copper-aluminum composite busbars, optimized 3D layout of copper bars, modular standardized cabinets and bulk purchasing are applied to reduce copper consumption reasonably while guaranteeing electrical performance.

Industry insiders predict copper prices will stay elevated for a long period. Material substitution and structural optimization become vital ways for panel factories to balance performance and production costs.