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).
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.