Price of Copper

[Rockyd]

Note to all:

Opening price of Copper on the market (world wide) at 4:00am PST was hovering around $1.41 this morning. The significance is that last week it was hanging at 1.28 for a low, and moved up to $1.31. Not sure if this is a trend or not, but quite possible for the price to correct for the "overshoot" on the lows, after coming off highs of $3.85 or so about three months ago. Something to pay attention to if you have a copper heavy job decision coming.

 

[macmikeman]

The stock market is also rebounding a bit. Look for gas prices to start going up again.

 

[ITO]

Copper and Oil seem to have some kind of connection. I don't know what but when oil goes up, so does copper... down too.

 

[dereckbc]

Believe it or not that is good news if the trend continues. Ot it could just be a Dead Cat Bounce from the New Year optimism.

 

[jrannis]

Just bought some 600 MCM @ $4,800 per thousand feet:smile:

 

[Rockyd]

All the commodities are beat up and depressed at this time. Let's all hope that this is the bottom of the low end of this cycle. Yes, we can get product for cheap, and was pointed out, but life will be better for all when prices go up some, and everyone gets to handle some of the money (IE hire electrical industy to solve some of their problems).

Be interesting after the 20th to see how the rest of the world will perceive events in America, and what market adjustments are made. Hoping all have a great and prosperous new year!

 

[hardworkingstiff]

Just bought some 600 MCM @ $4,800 per thousand feet:smile:

I remember paying twice that for 500-KCMIL about a year ago.

 

[MarkyMarkNC]

Here is a ten year chart of copper prices. I remember thinking in 2003 that wire pricing was getting ridiculous when copper got to $1.20 a lb!

www.infomine.com/investment/metalschart.asp?c=copper&u=lb&submit1=Display+Chart&x=usd&r=10y

The wire manufacturers really took a bath when the price of copper dropped as quickly as it did. The price of the wire we are buying now is based not only on the cost of copper now, but the cost of futures contracts from 3 or 6 months ago, when copper was still somewhat outrageous.

It wouldn't surprise me to actually see wire in the short term (3-6 months)come down a bit more, until all of the copper contracts become current for the wire manufacturers.

Of course, if I could accurately predict copper or wire pricing, I would be in another business!!

 

[boboelectric]

are we adjusting are prices accordingly?

 

[macmikeman]

are we adjusting are prices accordingly?

We sure are, when the price went down for copper, I adjusted my prices upwards again.

 

[jrannis]

I remember paying twice that for 500-KCMIL about a year ago.

It was right at $12 here for 500 MCM not so long ago

 

[steelersman]

AL should be used for anything above #6 in my opinion. Does just as good of a job if not better when installed properly IMO.

 

[rexowner]

AL should be used for anything above #6 in my opinion. Does just as good of a job if not better when installed properly IMO.

I have no problem with using aluminum, but just this last
week when I went to buy some wire for some 125A and
200A services, I was surprised that my supply house had
the copper wire (slightly) cheaper than the bigger
equivalent aluminum wire.

I think this was just a temporary inventory situation for
them, as it looks to me like the underlying commodity is
still cheaper for aluminum, but I obviously got
the cheaper copper, and was glad I checked.

 

[tonyou812]

Here is a ten year chart of copper prices. I remember thinking in 2003 that wire pricing was getting ridiculous when copper got to $1.20 a lb!

www.infomine.com/investment/metalschart.asp?c=copper&u=lb&submit1=Display+Chart&x=usd&r=10y

The wire manufacturers really took a bath when the price of copper dropped as quickly as it did. The price of the wire we are buying now is based not only on the cost of copper now, but the cost of futures contracts from 3 or 6 months ago, when copper was still somewhat outrageous.

It wouldn't surprise me to actually see wire in the short term (3-6 months)come down a bit more, until all of the copper contracts become current for the wire manufacturers.

Of course, if I could accurately predict copper or wire pricing, I would be in another business!!

I remember when a roll of 14/2 was 13 bucks.

 

[jdsmith]

The price of the wire we are buying now is based not only on the cost of copper now, but the cost of futures contracts from 3 or 6 months ago, when copper was still somewhat outrageous.

It wouldn't surprise me to actually see wire in the short term (3-6 months)come down a bit more, until all of the copper contracts become current for the wire manufacturers.

If you place a large enough order for wire your price will actually be indexed to the cost of a copper future for delivery 4 weeks after the day you place the order (assuming 4 weeks production time.) I placed a big order about 6 weeks ago and was able to time the market within a day or two, but I needed to get it ordered so it wasn't worth thinking in terms of the following week or the following month.