Current situation:
- The producer price index for copper tube and fittings was down 3.9% month-over-month (up 1.6% in the last update) and was down 8.6% year-over-year.
- Prices (lb.): 1 year ago - $2.92; 6 months ago - $2.67; 90 days ago $2.93; Today - $2.66; 12-month price range - $2.93 high - $2.58 low.
Key factors that could affect supply or price:
- The protracted U.S.-China trade dispute and it’s effects on global growth and demand, along with a stronger dollar continued to weigh on copper pricing today, closing at $2.66. Pay close attention to news regarding these trade talks as a resolution will have a very positive effect on the base metals markets. China’s economy continues to slowdown and increasing LME copper inventories are causing many funds and traders to bet on lower prices.
