Prysmian wins UK bidder role, copper market eases - Sep 30, 2025

As of September 30, today’s news is dominated by Prysmian’s lead role in a major UK interconnector project, alongside developments in copper supply and company movements in various sectors. Britain's power transmission owners SP Transmission and National Grid Electricity Transmission have selected Prysmian as the preferred bidder for a proposed link between England and Scotland. The 2 billion euros value of the contract is an estimate as negotiations are not complete, the company said today. The Eastern Green Link 4 will connect a high voltage direct current cable from Fife in eastern Scotland to Norfolk on the east coast of England via the North Sea. Prysmian is already involved in the projects Eastern Green Link 1 and 2, also aimed at improving the electrical interconnection of England and Scotland along Britain's east coast. Turning to the market, copper prices showed a decline, slipping 0.6% to 10,347.50 dollars a metric ton as traders engaged in profit-taking following a surge that reached 15-month highs last week. This adjustment comes on the back of lowered global supply estimates for copper due to an accident at the Grasberg mine in Indonesia, which has led to a force majeure declaration by Freeport-McMoRan and a reduction in sales forecasts through 2026. Furthermore, Chile's copper production fell 9.9% year-on-year in August, marking the largest drop in over two years, highlighted by setbacks at major mining operations. In global trends, Stellantis announced a temporary halt in production at its Mulhouse plant in northeastern France, affecting around 2,000 employees. This decision is aimed at adjusting to current market conditions and managing inventory effectively. On the geopolitical front, the United States faces a potential government shutdown if Congress cannot reach an agreement on funding measures, creating uncertainty in policy and economic stability.