Current situation:
- The producer price index for copper tube and fittings was up 1.6% month-over-month (up 1.2% in the last update) but was down -.1% year-over-year.
Key factors that could affect supply or price:
- Copper metal did move up slightly to $2.67 from $2.63/lb. on June 4, but is still within $0.09/lb. of the low of the past 12 months of $2.58 from January 4.
- Pressured by the escalating trade dispute between the United States and China, concerns continue over potential damage to manufacturing activity and overall demand for industrial metals from China whose economy has slowed over the past year. Also, some pessimism may have crept into the market as recent headlines have touted the history-making run of the 10-year Bull market.
