- The Producer Price Index for copper tube and fittings was up 6.6% month-over-month (up 15.2% in the last update) and was up 54.5% year-over-year (up 42.1% Y/Y last month).
Key factors that could affect supply or price:
- Prices: Currently trading at $4.24 lb., up again from the 7-year high of $4.11 lb. in February, 76.4% higher over the past year and 20.3% higher YTD. Analysts expect the price to average $3.52 lb. on the high side and $2.90 on the low side for 2021.
- Headlines: Key mining markets in South America have closed their borders temporarily due to COVID risk. This, coupled with challenges in other global supply chain markets, higher demand, and lower inventories have kept copper at 10-year highs.