What caused Tesla's stock to rise?

Reports that automakers are switching to aluminum wiring to cut costs amid high copper prices.

What is the benchmark copper price?

Copper is above $6 per pound, up more than 20% over 12 months.

Did Monday's gains offset last week's losses?

Yes, Monday's rally erased the prior week's $20 per share decline.

Tesla Stock Jumps 8.5% on Aluminum Wiring Shift

Tesla stock surged 8.5% on Monday, erasing the prior week's losses, after reports that automakers are using aluminum wiring instead of copper amid near-record copper prices above $6 per pound.

June 30, 2026

2 min read

Source: Barrons.com

Key Numbers

stock gain percent

8.5%

stock gain dollars

$30

prior week loss dollars

$20

copper price per pound

copper 12m change percent

20%

Tesla (TSLA) shares surged 8.5% on Monday, gaining roughly $30 per share and fully reversing the $20-per-share decline from the prior week. The move followed a Reuters report that several automakers are using aluminum wiring in place of copper in some applications.

Possible Reasons

According to Reuters, automakers are turning to aluminum as a cheaper alternative to copper, whose benchmark price has exceeded $6 per pound—near all-time highs and up more than 20% over the past 12 months. Aluminum wiring reduces both cost and weight, benefiting companies like Tesla that focus on production efficiency.

Context

Tesla had lost about $20 per share last week, but Monday's rally completely erased those losses. The stock remains volatile amid broader market conditions.

Similar Moves in the Sector

No similar moves were reported for other automakers, but the industry-wide shift to aluminum could have broader implications as copper prices stay elevated.

Frequently Asked Questions

Tesla stock rose 8.5%, or about $30 per share.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.