Copper tube & fittings report: August 2017
Copper has steadily decreased from a high of $4.6495 in 2012 to a low of $1.9355 in Jan. 2016. But since July 14, there has been a surge in copper pricing that later stalled and then picked up some steam on July 25 in response to positive job growth in the U.S. However, it’s reasonable to anticipate further stalling in the market as U.S. stockpiles are at their highest in more 10 years. If and when the Trump administration’s infrastructure spending appears, then expect copper pricing to rise.
Worth noting is output from Freeman’s Indonesia mines is short of expectations, and Indonesian government agreements on these troubled mines expire in October. Comex copper continues to increase, partially due to a weak dollar and adjustments in China’s short-term forecast. In addition, uncertainty and unrest suggest continued upward trend on the Comex.
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