Copper Speaker
How To Shop for Tray Cable And How Copper Cost Affects The Final Price You Pay
Many folks following the markets lately have noticed that commodity prices have been on an upward trajectory through the first half of the year. As vntc cable as well as tray cable, sow cable, soow cable, and dlo cable are all heavily dependent on raw material costs, there has been a noticeable increase in the pricing of these items.
Most of our long time customers are acutely aware of the effects of rising commodity prices. What has the biggest effect of course is the price of copper. Today for instance copper was selling for about $4.30 per pound on the COMEX. At this level it is hovering near its all time contract high of around $4.60 per pound hit earlier this year at the start of 2011. The question on everyone's mind is how much higher can it go.
Closely following copper in electronic cable production is the price of oil. As the outer sheathing and conductor insulation of most cables are petroleum based, the price of oil plays a significant part in pricing also. Oil we know hit a high of about $147 per barrel in the summer of 2008 and right now is on the rise again primarily due to problems in the Middle East and North Africa. Oil right now sells for about $104 per barrel.
If the economy keeps improving, it is very likely that we will experience a sustained increase in these raw input costs. Many economists agree that we are seeing a measured but steady recovery that will go on for the rest of 2011 and beyond.
Quite a few emerging economies are also experiencing improvements with China of course being the largest in terms of increased GDP. If we can continue with this current trajectory it is almost assured that copper and oil will continue the steady march north. If you are a big buyer of the larger types of wire and cable it may behoove you to take a look at projected usage for later this year and maybe consider stocking up now before we begin to see the big price increases.
So how can you use this knowledge to your advantage? When you see prices decline on the NYMEX, ensure that your supplier is reducing the costs of their finished products to you. Often, distributors are quicker to increase prices than to lower them. Now knowing what raw materials cost, make sure that your supplier is pricing their wire and cable appropriately.
When you see there is a disparity in the cost of the raw commodities and your finished goods price, consider contacting another distributor for another bid. There are quite a few distributors who sell tray cable and vntc cable. This extra effort on your part may help you retain more profit in your pocket. Additionally, knowing about cost reductions can allow you to lower your job quotes, which might in turn make your bid more competitive than your peers – and allow you to win more business.
Should you have any concerns or are in need of more detailed advice, please call us. Delco Wire has been around for over 30 years. Our very experienced staff will be more than happy to help in any way possible. We can be reached toll free at 800-714-9473.
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