Copper tube has seen more volatility of late. As a result a new list price sheet was published by copper mills on December 4th, which is now in effect. Copper rose for 3 straight days towards the end of last week, closing up over $.07 on Friday, and is up again over $.02, resulting in a multiplier increase of 2.5% which is now in effect.
For a good breakdown of what we can attribute copper’s recent performance to, please see this article from Reuters. To summarize:
- An improvement in the Chinese manufacturing sector, raising copper import levels 12.1% from October to November
- Chinese-U.S. trade talks have kept inventories low, keeping Chinese demand for imports high
- Copper traded at the highest levels on the London and Shanghai exchanges since July, signaling purchasing momentum
As always, you can rely on us to help manage your inventory of these commodity products. We keep our stock high, so you don’t have to. Buy what you need from us, when you need it.
Click here to follow market updates on our website. Please call your United Pipe or Merfish representative to place orders now. Visit our website to see list price sheets and enter your multiplier in the Excel format to see your individual list prices.