Current situation:
- The Producer Price Index for copper tube and fittings was down 5.6% month-over-month (down 3.4% in the last update) and was down 16.8% year-over-year (down 9.8% Y/Y last month).
- Copper closed May 19 at $2.41 ($2.34 last month).
Key factors that could affect supply or price:
- Copper has slid back to $2.35 from last week’s 2-month high of $2.41. Prices were weighed down by concerns over the global demand. Imminent global sluggishness is expected to severely impact the demand for metals, including copper.
