Copper wire prices

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dduffee260

Senior Member
Location
Texas
Ok, we already going through what happened last year who stocked up on copper so far this year? In January spot price was $1.25 a lb. Now it is $1.80 and looks to be going up. We bought some in January then again again 2 weeks ago. There did not seem to be a large amount of difference between these purchases. The supply house told me last week that pricing was going up 14% this week. I hope this thing does not get out of hand again like it did last year.
 

nakulak

Senior Member
this doesn't make any sense to me - there is a lower demand, and the prices should be going down. something stinks about this.
 

B4T

Senior Member
this doesn't make any sense to me - there is a lower demand, and the prices should be going down. something stinks about this.

your right.. it does stink. Supply and Demand is for honest people. The same crooks who run Wall Street also run the copper market. We are all getting the shaft either buying gas to get to the job or doing the job itself. :mad:
 

sii

Senior Member
Location
Nebraska
I thought I heard somewhere that the high copper prices were driven by some sort of problem in South America. Something about the governments down there threatening to kick the American mining companies out of the mines and make them government-run?
 

CopperTone

Senior Member
Location
MetroWest, MA
last week I bought 25,000 ft of romex and put it in my basement. The price went up 2 days after I bought it and I've heard it is going up this spring big time.
 

Okie Sparky

Member
Location
NW Oklahoma
The supply house I do most of my business with would only quote copper prices day by day last week. The manager said it was real volatile, as volatile as he had seen it in a long time. He said one day it is up and the next day its down. I am debating whether to buy for a job or not. Fairly sizable order for me. When I bid the job wire prices were up.
 

dereckbc

Moderator
Staff member
Location
Plano, TX
Well unfortunately it is the second shoe to drop on the USA economy called Inflation. The US dollar value is dropping from printing money and huge deficit spending, so your dollar buys less. Hold on to your hats, or I should say your wallet.
 

quogueelectric

Senior Member
Location
new york
I am glad I read this as I think the world has gone crazy. I will stock up on wirre tommorow but cash is king these days. I still like to have a 1000 foot spool of my 6 basics on my truck at all times. 12-2/12-3/14-2/14-3/rg6quad/cat5e plenum rated. When they go below half they are replaced. These simple items make a lot of money.
 

hardworkingstiff

Senior Member
Location
Wilmington, NC
Well unfortunately it is the second shoe to drop on the USA economy called Inflation. The US dollar value is dropping from printing money and huge deficit spending, so your dollar buys less. Hold on to your hats, or I should say your wallet.

I agree except maybe I would say to get rid of your cash (not completely). If you are planning to buy something in the next 5 years, it may be wise to get it now before inflation sets in.

I remember a guy I worked for in the '70s saying to buy everything you can and pay it off with inflated dollars (remember stagflation?).
 

Fulthrotl

~Autocorrect is My Worst Enema.~
Ok, we already going through what happened last year who stocked up on copper so far this year? In January spot price was $1.25 a lb. Now it is $1.80 and looks to be going up. We bought some in January then again again 2 weeks ago. There did not seem to be a large amount of difference between these purchases. The supply house told me last week that pricing was going up 14% this week. I hope this thing does not get out of hand again like it did last year.

i just got my weekly email from my broker, and this paragraph is worth quoting
just to give a perspective on things:

"In another sign of good news, the price of a pound of copper rose to $1.86
at one point last week, up from just $1.30 in December 2008. Copper has
earned the nickname ?Dr. Copper? due to its past ability to predict booms and
busts, according to MarketWatch. The fact that copper is heavily used in
building and manufacturing helps explain its supposed forecasting ability.
Russell Napier, author of the book, Anatomy of the Bear, is also a big believer
in copper?s predictive powers. He wrote, ?Of all the commodities, the change
in the trend of the price of copper has been a particularly accurate signal of
better equity prices.?

"These initial shards of good news helped underpin the market?s recent rocket
rise. Since reaching its cyclical closing low of 676 on March 9, the S&P 500
has risen just over 20%, according to data from Yahoo! Finance. That?s a
remarkable recovery in just 18 days. Technically, it means we?re in a new bull
market using the traditional definition of a 20% gain from a previous low.
Technicalities aside, nobody is ready to uncork the bubbly."

so what's it mean? from my point of view, stable copper prices are nice to
be able to survive in a bid world. from a larger point of view, having an
unlimited supply of cheap water at your feet isn't such a good thing if you
are in a boat, and it's coming from a hole in the hull.
 

MarkyMarkNC

Senior Member
Location
Raleigh NC
The COMEX copper warehouse stock levels are still extremely high, so I doubt demand for copper has increased dramatically. That probably means all of the recent increase in copper has been from speculators....the same knuckleheads that gave us $4.00 a gallon gas and $4.00 a lb. copper.

I wish there was a way to put a limit on how many commodity futures contracts you could buy without taking actual delivery of the product. The last thing this country needs is a bunch of finance types continuing to pour gasoline on a fire they were largely responsible for creating.
 

iaov

Senior Member
Location
Rhinelander WI
The COMEX copper warehouse stock levels are still extremely high, so I doubt demand for copper has increased dramatically. That probably means all of the recent increase in copper has been from speculators....the same knuckleheads that gave us $4.00 a gallon gas and $4.00 a lb. copper.

I wish there was a way to put a limit on how many commodity futures contracts you could buy without taking actual delivery of the product. The last thing this country needs is a bunch of finance types continuing to pour gasoline on a fire they were largely responsible for creating.
Very well put!!:smile:
 
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