Snapshot
Copper Tube
9/25/25 – Copper prices are poised for their largest weekly gain in three months, driven by intensified global supply disruptions, including an accident at Freeport-McMoRan’s Grasberg mine and a mill shutdown in Peru. These events have tightened the supply-demand balance and are contributing to a bullish outlook for copper throughout the rest of 2025 and potentially into 2026
10/30/25 – Copper has been riding high over the last several days. This latest surge is being driven by optimism for another rate cut by The Fed and a potential trade deal between the US & China being worked out as soon as this week. Supply concerns from major mines across the world continue to be worrisome. The Comex is currently trading near $5.20 lb.
Copper tubing manufacturers announced a new list price sheet on 10/30/25, with a new multiplier structure as well. the net increase is +2% on 1/2″-4″ and +1% on sizes over 4″.
11/4/25 – Wall Street executives are voicing concerns of valuations being too high and it’s causing a selloff in the financial markets. The dollar is surging, putting a lot of negative pressure on most commodities, including copper. With this news, copper manufacturers have announced a 2.5% decrease on 11/4/25.
12/3/25 – With Comex trading near $5.30, Copper tubing manufacturers announced a new list price sheet, that is 8% lower, however the multipliers increased by 10%, so there is a net increase of about 2%.
12/12/25 – In part, in response to the rate cut, copper tubing continues to increase with Comex trading near $5.40. Copper tubing manufacturers announced a multiplier change, netting in an increase of about 2.6%.
12/29/25 – With Comex trading over $5.60, copper tubing manufacturers announced a multiplier change, with the impact to nets being around a 5.3% increase.
1/6/26 – Comex is trading near $6.00 and with that copper tubing manufacturers announced a list price adjustment of approximately 6% higher pricing, but a multiplier decrease, reflecting around a 1.5% increase in net price. Copper prices surged higher following news of a strike at a Chilean mine, sparking up supply concerns once again.
1/29/26 – Comex hit record highs on 1/28/26 rising to over $6.60 lb and with that the copper tubing manufacturers announced list price increase of 5% and a multiplier adjustment of approximately 2.7%, for a total net impact of around 7.7% net increase.
2/2/26 – Copper has had a 2.5% decrease in multiplier.
2/10/26 – Copper has had another 2.5% decrease in multiplier
Futures remain in Contango.