Current situation

  • The producer price index for copper tube and fittings was up 3.3% month‐over‐month (down 2.4% in the last update) and was down 3.3% year-over‐year (down 4.5% Y/Y last month).
  • Copper Prices: 1 year ago: $2.75; 6 months ago: $2.78; 30 days ago: $2.58; Nov 6th: $2.66

Key factors that could affect supply or price

  • Copper (after reaching a 3‐month high on Tuesday), dropped back on Wednesday as trade
  • talks sputter along. This seems like a broken record, but it appears that the U. S. and China are
  • inching closer to a trade deal which has helped boost copper. An agreement would most likely
  • include rolling back some of the tariffs which would spur global growth and lift demand.
  • Reports indicate that hedge fund managers and other speculative investors are the least bearish
  • since April. Maybe there is truly light at the end of the tunnel and the worst of the U.S. ‐ China
  • trade war is behind us or will be shortly. Many copper producers and processors feel the growth
  • fundamentals are pointing in a positive direction for the balance of the year.