What’s Happening With Copper in Summer 2020

“It’s no coincidence that global copper prices and Chilean Covid-19 cases are rising together.” -Bloomberg

The Copper market has been very volatile during the summer of 2020. Over the past 30 days, Copper has been on an sustained upward trend. This can be attributed to, among other things; the rebound in demand across the world, but especially China, which consumes about 50% of the world’s copper, and; the potential supply disruptions from Covid-19 that are impacting copper-producing countries (such as those in South America) particularly hard.

To learn more about this, please read on below. To place orders, call your Merfish United representative: 800-777-7473

Please see our latest Copper Tube List Price Sheet, dated July 1, by clicking here.

Supply and Demand of Copper

With the spread of COVID-19 still a top concern, Codelco, the world’s top Copper miner according to this AP report, will be taking additional measures to insure the safety of their miners. This includes delays in new mines, mine repairs, a two-week on and two-week off schedule for workers, and other measures which will result in a safer work environment, but produce less Copper.

Also, with a rebounding Chinese economy following COVID-19 slow-downs, China is once again increasing it’s demand for Copper. With this and a limited supply, prices are going up as reported by the AP in this report.

[Most Recent Quotes from www.kitco.com]

How We Can Help

With the economy reopening across the United States and construction and maintenance of infrastructure back underway, we wanted to remind our wholesale customers that our business model – which enables wholesalers to buy a broad array of pipe products from one supplier, at low minimums for FFA – is designed for low and unpredictable volume scenarios, exactly like the one we are in right now.

We are in this together. Please call your Merfish United representative for information on inventory, delivery and to place orders: (800) 777-7473. Jobsite deliveries are available anywhere within our nationwide distribution network. Will-calls are available by appointment.

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