Copper prices have lifted since January’s report. Still off of its 2018 June peak of $3.35, copper prices did lift from January’s $2.57 to a current price of $2.77 (a 7.7% increase month-over-month). The low decade low was set in 2015/2016 when the price per pound was generally under $2.00. The 10-year high was set in 2011 at $4.50/lb.
Norway has approved a new mine project in the Kvalsund area, a region that contains Norway’s largest reserve of copper ore at an estimated 79 million tons. The project is expected to start this summer.
Despite this and other mining developments, analysts believe that global copper demand will continue to slightly outpace global supply for the next 2-3 years, barring an extraordinary global economic event.
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.
Report Abusive Comment