Price of Copper

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mshields

mshields

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Boston, MA
I keep hearing that copper prices have gone through the roof. Two questions: First and most importantly - by what percent over the 2006 means book has copper gone up.

Secondly and just out of curiosity, what has caused this drastic increase?
 
I have been told that the price of copper has gone up significantly for two primary reasons. One is the demand for copper for the rebuilding of hurricane-damaged areas in the US, primarily the Gulf Coast regions from Florida to Louisiana. The second is the demand for copper to build stills in the production of Ethanol alcohol, which is now being used in automobiles. Apparently, copper stills are needed for the production of this fuel.

Both seem reasonable explanations, but it appears all metals are getting more and more expensive.
 
Price of steel

Price of steel

I heard that the price of steel went up really high, as a result of China's major economic/industrial boom. Maybe this also had an effect on Cu.

-Matt
 
All comodities are still going up. Gold, Silver, copper, alum, steel concrete, etc.
Reason is the global economy is growing, there is a massive build out going on in russia, China & India. It looks like other cultures are catching on to the Mcdonalds, Starbucks, Apple & the GAP and what is know as free enterprise. Anything needed for construction has gone up, but then these buildings need furnishing after they are built. More demand there too!
The world economy is growing & most other cultures are having babies that are surpassing our "baby Boom" 50 years ago.
Everything is now a global economy and other parts of the world are using the comodities that we were used to having ample supplies of.
Don't expect this to end anytime soon.
 
Demand is high, supply is down. Mining the copper is hit snags as well. I see the price starting to level of and actually decrease. All construction materials are in high demand. What can you do?
 
lol...hope it keeps dropping...lol.....I have to buy (20) rolls of 14-2 tomorrow.....sigh......God's of Copper....Lower your price.....increase my margins of great copper God's....:)
 
Several things happened: But it all started with this study report, next day - BLAM!

First, this study by our goverment set a gloomy picture and free market forces are hard at work so that somebody else makes money, and lots of it. In case you haven't noticed, it is no longer "supply and demand", but precieved supply and demand. You go out, and buy yourself some stock/futures in something, tell everyone there is a huge shortage looming, give 'em some story that can not be confirmed. No problemo.... (Ken Lay's Dark-Star model) The oil and gas industry have been crooning shortage of supply and refinement all year, and have had record breaking profit. So much that the government wants to create a "Wind-fall Profit Tax". So far there has been no shortage of oil or gas, has there? Then they blame you, for wanting to breathe, and claim that changes in additives are to blame....

Back to copper, the only shortages there have been lately, is cleared out shelves from places with low prices. (High priced created the demand for low prices, thus the empty shelves.) But so far, no one has said they cant get copper, and I doubt they ever will. Because as soon as prices start to drop, even in the slightest, a story like this will pop-up in some money mag.... These things happen all the time, but if the upper 1% is invested heavy in it, you can bet money that a story in the Wall Street Journel will be there to prop the price back up. It's called market manipulation, capitalism at its best! Got a supply, put a fear of future demand / shortage out there, and rake in the cash! (Ken Lay shut off parts of California just to make us all know he meant buisiness...)
 
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