- The Producer Price Index for copper tube and fittings was up 19% month-over-month (up 4.7% in the last update) and was up 98.9% year-over-year (up 70.9% Y/Y last month).
Key factors that could affect supply or price:
- Prices: Copper is currently trading at $4.27 lb., down from the 7-year high of $4.74 lb. in May, 43.57% higher over the past year and 20.86% 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.