Hi Jason. It went with me from around 19.00 or so a Lb to almost 28.00 a Lb.
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Looking at these charts:
http://www.kitcometals.com/charts/co...rge.html#1year
I see that the price of copper has started to drop as surpluses are rising. It may take a couple of years, but I think the price of copper might drop back to 1/2 of what it is today.
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Cool charts...
I think the reason the price of copper went up so fast is China was buying up
all the metals they could find, so speculators warehoused as much as they could hoping the price would go higher. Now that the Chinese aren't buying so much, the speculators are trying to sell before the price drops below their buy price. According to those charts, copper will drop quite a bit more before New Year's.
This is good for us, kinda. Pickup wire being as fine as it is is very difficult to make, so it will always be more expensive than other copper products. I'm not sure how much the price of copper will impact the price of finished wire, but I'm hoping copper wire drops to say $20. a pound and that the price of cobalt drops so mags are cheaper too.
Now all we need will be cheaper Forbon...
Ken
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I track copper prices at Home Depot, the 250' 12AWG rolls were $19 for years then shot up to $130 this summer. Last I checked they were back down to $65 and dropping. I thinks it's partly the overheated construction market from earlier in the year (now tanked) and perhaps the military too, -there was some kind of war going on last I checked...
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