Copper Tube & Fittings: April 2019
Prices (lb): 1 year ago - $3.23 (June 10, 2018); 6 months ago - $2.81; 90 days ago - $2.66 (April 21, 2019) - $2.91; 12 month price range $3.23 high - $2.57 low (Jan. 3, 2019)
The copper metal market is looking technically weak and that could reflect concern that the global economy is still showing few signs of a sturdy recovery. Data from China last week was broadly positive but reports out of the EU and elsewhere suggested that recovery is patchy at best, raising questions about future demand. These concerns could cause metal to break through its 2019 trend line which analysts predict would result in prices moving back into the mid $2.80s.