The Producer Price Index for copper tube and fittings was up 0.1% month-over-month (-2.8% in the last update), but was up 74.8% year-over-year (up 85.8% Y/Y last month).
Key factors that could affect supply or price:
The copper COMEX futures price continues to hold steady around the $4.30/lb. mark. Although this raw material cost has fluctuated between $4.10/lb. - $4.60/lb. over the last six months, copper tube and fitting pricing has remained flat. We continue to see inventory holes on everyday copper tube and fittings items stemming from importing constraints on raw materials, labor shortages and very high market demand for these products.
China continues to lower inventories, while reducing imports, and the USD continues to effect metals pricing. Copper pricing has been pretty consistent in Q2/Q3 2021, and we expect the same consistently through the end of 2021.
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