Commodity Update Archives

Commodity Update – October 2024

Copper and aluminum remain in high demand for EV production.

Commodity prices climb, but their future remains uncertain.

China’s economic slowdown causes ripples in commodity prices.

Suppliers are trying to grasp market dynamics as they await the impacts of Section 301 tariffs.

On May, 14, the Biden administration announced several tariff increases.

With a year-to-date average of $3.99, copper has already passed last year’s average of $3.86.

Copper prices are climbing incredibly fast this month.

Prices rose early in the month but settled down with the start of the Chinese New Year on February 10.

Economic news out of China caused a steep decline in copper prices.

While some markets were dynamic through 2023, others saw continued softening.