There is continued volatility in commodity metal costs. Copper increased 5.1% in October and stands at 41% higher compared to October, 2016. Zinc and nickel are up 30% and 21%, respectively, for the year.
In particular, the price of copper has a significant effect on costs and it is continuing to rise, currently at its highest level since September 2014. One major bronze valve manufacturer announced a 5% percent price increase on October 1, which appears to be holding, but it also stated that it is planning no further increases through the first half of 2018.
Overall, the market outlook remains steady. For September, construction spending residential activity was flat in comparison to August but was up 9.5% year-over-year. Commercial (building) construction was up 0.9% over August and up 2.9% year-over-year.
The American Supply Association (ASA) and its Industrial Piping Division (IPD) is the national organization serving wholesaler-distributors and their suppliers in the industrial and mechanical pipe-valve-fitting industry. As a powerful alliance of channel partners, we provide a forum for your upstream trading partners to exchange critical information and address key issues.
In particular, ASA’s IPD members constantly check the pulse of the materials and commodities they proudly supply to you. ASA’s IPD members are knowledgeable industry leaders, and those who volunteer their service on the IPD Executive Council compile and prepare the IPD Commodity Reports. The Reports contain some of the most current and qualified market data and information available from the industry’s leading manufacturers and distributors about emerging trends and other price-influencing actions and events.
This information is an example of how ASA’s IPD manufacturer and distributor members are constantly looking ahead to ensure you have information and resources you need to be successful. Learn more at www.AdvanceYourAbility.com.