The Producer Price Index for copper tube and fittings were up 4.7% month-over-month (up 2.2% in the last update) and was up 70.9% year-over-year (up 62.8% Y/Y last month).
Key factors that could affect supply or price:
- Prices: Currently trading at $4.15 lb., down from the seven-year high of $4.74 lb. in May, 56.05% higher over the past year and 17.7% higher YTD.
- Some global buyers are starting to reduce new orders of inflationary-impacted commodities, holding off on restocking until prices come down. That and some challenges in pockets of global production due to Wave 4 of COVID in some producer nations has pushed demand a bit lower.