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The prices of copper, aluminum, silver and gold reached historical records in 2025 and continue to remain at high levels in early 2026, the Bulgarian Association of Electrical Engineering and Electronics (BASEL) warned. This increase in prices is putting pressure on Bulgarian manufacturers of cables, transformers, electrical equipment and equipment for renewable energy sources.
According to data from the London Metal Exchange (LME) and the London Bullion Market Association (LBMA), copper is trading at over 13,800 USD/ton, aluminum at over 3,300 USD/ton, gold at over 5,500 USD/troy ounce, and silver at almost 120 USD/troy ounce. For gold, this is significantly above the average value for the period 2015-2025, which is 3,431.5 USD/troy ounce.
The main reasons for the price spike are the growing demand related to electrification, renewable energy sources and electric vehicles, insufficient investment in mining and processing over the last decade, disrupted supply chains and state subsidies in countries outside the EU such as China and Turkey.
According to the association, high metal prices lead to an increase in the cost of production, distortion of competition, loss of market positions in the EU and a risk of contraction of Bulgarian production.
"When producers outside the EU work with subsidized raw materials and energy, and Bulgarian enterprises bear the full market and regulatory pressure, the result is a loss of competitiveness. This is a risk for production, employment and exports in Bulgaria," said Dr. Eng. Dimitar Beleliev, Chairman of BASEL.
In response to these risks, BASEL is calling for three measures. The first is indexation of metal prices in long-term contracts and public procurement in Bulgaria. The second - protection of Bulgarian industry from unfair competition from countries outside the EU, and the third - a policy to preserve production capacity and jobs in our country.
The Bulgarian Association of Electrical Engineering and Electronics (BASEL) has 115 Bulgarian and foreign companies with manufacturing, engineering, trade, consulting and development activities. BASEL members are manufacturers of electrical and electronic products, companies for the repair and construction of electrical installations, supply of components, etc. with a total annual turnover of over 1 billion euros. In 2024, for the 9th consecutive year (excluding 2022), the electrical industry was the largest contributor to Bulgaria's exports, about 4 billion euros. 1,300 companies with over 57,000 employees work in electrical engineering and electronics.