Copper Caper?


Yesterday, I went to Home Depot to buy a coil (250′) of 14/2 NMB, or “Romex” as in the trade call it. But when I saw the price of it I couldn’t believe my eyes! $78.00?

And get this: 12/2 was $130.00! Thank God I already had a full coil of 14/3 on my van. Before you say “Well that’s tough” or something like that, this copper caper is going to force myself, and other electricians and plumbers to have to charge our customers more.

So just why is copper so expensive? I’ve heard rumors that China is buying it all up, that because of the war in Iraq, that India is hoarding it, etc. All of these mean nothing to me. What matters is seeing the price of wire per foot triple since this time last year. I pity the larger Electrical Contractors who wire new homes, as they go through thousands of feet a week.

My final question: Will the price ever go down? Or will everything, like Gasoline, Food, Utilities, etc just continue to go up? If so, then it seems to me that America is heading for a serious ressession. Higher prices mean less spending, less spending means less work, less work means less income.

Maybe I will win the lottery..

P.S. If you live in Delaware County and are in need of an Electrical Contractor, Click Here.

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4 thoughts on “Copper Caper?

  1. I have a friend who is a commodoties broker and I recently asked him about the copper price shooting up, he mentioned that the Chinese are in fact driving the price up from thier increased demand for the metal and that companies are actually re-opening abnandonded copper mines due to the strong demand. The influx of raw materials for export to China will further increase the demand & prices on items like this. From what I’ve come to learn there are really only two commodoties that the US exports to China, one is scrap iron, the other is scarp paper (to make boxes) Copper has been growing strong as a recent export to China.

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