COMPONENT PRICES

Cable Price Today: Price, Trends and Forecast 2026 | Tacto

26.10.2026

Current cable price based on the LAPP metal quotation (October LCP 1,298.34 EUR/100 kg, the highest value in the series; the November value is published between 28 and 30 October). Trend analysis of the weaker euro lifting the copper base for November, rising LME stocks in US warehouses, the end of the Centinela strike, the US tariff proposal for refined copper and the falling aluminium base. Scenarios and procurement recommendations for European industrial buyers.

METHODOLOGY

LCP (LAPP Copper Price) and LAP (LAPP Aluminium Price) are derived from LME cash settlements, the ECB euro reference rate, a cathode premium and ancillary surcharges. LAPP applies the previous month's average for the next month's quotation. Real cable prices additionally include cable type, metal base, construction, shielding, standards, conversion and logistics.

AT A GLANCE

The copper base for cables is likely to rise to around 1,335 EUR/100 kg in November, almost 3 percent above October (Tacto estimate). The driver is the euro: the October average of the LME cash price of 14,523.82 USD/t is only 0.3 percent above September, while the euro is 2.6 percent lower. LAPP publishes the value between 28 and 30 October.
LME copper stocks rose by 48,325 t to 273,750 t between 16 and 23 October. Almost all the metal is going into warehouses in the US, triggered by a US tariff proposal for refined copper from 2027 (Reuters, 22 October). This does not make copper cheaper for Europe.
The Centinela strike ended before 19 October with a new wage agreement and no production losses (Reuters). The supply argument from the last issue no longer applies.
The base for aluminium conductors is falling: the October average of the LME cash price is 6.8 percent below September, and by our calculation the November LAP is likely to fall to around 409 EUR/100 kg, down 4 percent.

Analysis & Drivers

Procurement Relevance

Forecast & Outlook

Related Component Prices

What is driving the price right now?

The copper base for cables is likely to rise again in November, and the reason lies in the currency market. LAPP calculates the LCP from the average LME cash price of the previous month, converted at the ECB reference rate. The October cash average stood at 14,523.82 USD/t up to 23 October, 0.3 percent above the September average of 14,483.39 USD/t. The euro, however, fell from a September average of USD 1.1513 to an average of USD 1.1215 in October. By our calculation this gives a November LCP of around 1,335 EUR/100 kg after 1,298.34 EUR/100 kg in October, up almost 3 percent. Five trading days remain until month end; even a fall in the cash price to 14,000 USD/t would lower the value by only around 10 EUR/100 kg.

The direction of copper stocks has turned. Between 16 and 23 October LME stocks rose by 48,325 t to 273,750 t. Almost all of it is going into warehouses in New Orleans and Baltimore; LME warehouses in the US hold 169,475 t, the most since April 2014 (Reuters, 22 October). The background is a proposal by the US Commerce Department for an additional 15 percent tariff on refined copper from 2027, rising to 30 percent from 2028; no decision has been taken. On 23 October cash stood 145 USD/t above the 3-month price, so metal outside the US remains tight.

The supply side provides less support. The strike at the Centinela mine in Chile ended on the weekend before 19 October with a new wage agreement; Antofagasta reports no production losses (Reuters). LME cash fell to 14,215.00 USD/t on 22 October, the lowest close of the month, and recovered to 14,415.00 USD/t on 23 October, 435 USD/t below the year high of 17 August.

Aluminium is moving the other way. The October average of the LME cash price stood at 3,054.88 USD/t up to 23 October, 6.8 percent below September, because Gulf smelters are restarting faster than expected. Despite the weaker euro, by our calculation this gives a November LAP of around 409 EUR/100 kg after 426.92 EUR/100 kg in October. What we are watching: LAPP's November values, a decision on the US tariff proposal and whether the metal stays in LME warehouses in the US.

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What does this mean for procurement in Europe?

Expect a copper base almost 3 percent higher in November and check demands against this order of magnitude. The driver is the euro, not the copper price. A supplier asking for considerably more and citing copper must show where the difference comes from. Check the metal surcharge using the formula in your contract: metal weight per metre, published quotation minus metal base. For most flexible cables the metal base is 150 EUR/100 kg, for telecommunication cables 100 EUR/100 kg and for underground cables zero.

Bring call-offs forward into October where volumes are fixed. If you know your cable volumes for November and December and can still call them off at October terms, you save around 3 percent on the metal component by our calculation. For the first half of 2027, spread fixing over several months. The stock build in the US does not relieve Europe, and cash above the 3-month price shows that prompt metal remains tight.

Separate metal and construction. With high copper prices there is a risk that a raw material increase is priced in twice, once through the metal surcharge and once through the base price. Ask for separate itemisation and check whether the base price has risen since the last deal even though the metal surcharge already reflects the copper move.

Use the falling base for aluminium conductors. The LAP is likely to fall by around 4 percent in November while the LCP rises. For power cables with larger cross-sections, the gap between copper and aluminium conductors widens; check a switch where cross-section, connection technology and standards allow. Include a decision on the US tariff proposal as an adjustment trigger in the contract, linked to publication in the Federal Register.

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Cable Price Forecast: Our Procurement Intelligence Team's Assessment

Base Scenario

1,320 to 1,350 EUR/100 kg LCP (November)

Within this range for the November value. (1) The October average of the LME cash price to 23 October is at the September level, but the euro is 2.6 percent lower, giving around 1,335 EUR/100 kg, (2) only five trading days remain until month end, which limits the swing, (3) rising LME stocks in the US and the end of the Centinela strike weigh on the copper price, (4) cash above the 3-month price shows tight prompt metal outside the US.

Risk Scenario

1,350 to 1,400 EUR/100 kg LCP (December)

Within this range if several triggers coincide over the next three months. (1) Washington confirms the tariffs on refined copper and draws more metal out of Europe, (2) copper breaks above the year high of 14,850.00 USD/t, (3) the euro stays at USD 1.12 or below. The December or January LCP would then rise above 1,350 EUR/100 kg. Probability 20 to 25 percent over the next three months.

Related Component & Commodity Prices

PCB

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Frequently Asked Questions

Which applications are most price-sensitive right now?

Most sensitive are power cables, control and automation cables, data centre cables, and applications in grid, industrial and EV charging infrastructure. That is where high metal relevance and robust demand meet most visibly.

When is a cable price increase metal-driven vs. construction- or delivery-driven?

Metal-driven primarily when metal surcharges or metal-adjacent components are demonstrably rising. Construction- or delivery-driven when additional requirements from termination, code compliance, shielding, short lead times, or custom configurations add cost. In practice, both layers are often working together right now.

Why do different cable types respond differently to the same metal movement?

Because the metal base and metal content differ by cable type. LAPP, for example, uses 150 EUR/100 kg for many flexible cables, 100 EUR/100 kg for telecommunication cables and 0 EUR/100 kg for directly buried power cables. The same copper move therefore does not have the same price effect on every cable type: if the LCP rises by around 38 EUR/100 kg in November, as we estimate, the effect on underground cables applies to the full copper weight, while for flexible cables it only applies to the part above the 150 EUR/100 kg base.

How reliable is copper as a reference for cable prices?

Copper is an important driver but not a complete reference for cable pricing. What matters for your procurement is the surcharge logic, meaning how the LCP or LAP, the metal base and the metal weight of the cable feed into the price. The LCP also depends on the euro: in October 2026 the LME cash average was only 0.3 percent above September, yet the copper base for November rises by almost 3 percent because of the weaker euro. Construction, insulation, shielding, standards and logistics add further cost layers.