Current situation:
- The producer price index for copper tube and fittings was down 0.1% month-over-month (up 3.3% in the last update) and was down 3.3% year-over-year (also down 3.3% Y/Y last month).
- Prices (lb): 1 year ago - $2.77; 6 months ago - $2.65; 30 days ago - $2.64; recently $2.78
Key factors that could affect supply or price:
- Copper moved to a 7-month peak yesterday but has fallen back today to $2.76. Driving the increase has been rhetoric from the Trump administration about the China trade agreement and the extraordinary jobs report last Friday. Copper futures are rising but for pricing to go up next year more mining had to take place. Reports that capital expenditures in mines are the lowest in 20 years. Based on what they see now there should be a continuing move upwards in pricing reaching $3.00 by mid-year.
