AEC Industrial Magnetics Manufacturing

 
4699 Interstate Drive
Cincinnati, OH 45246

Copper Prices Hit 13-week High June 5
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Copper Prices Hit 13-week High June 5

Permanent & Electromagnets for Automation | AEC Magnetics

spot copper 60d LargeCopper prices surged to 13-week high Friday, June 5, 2020, up 2.9-percent to USD $5692 per tonne on the Londop Metal Exchange. This is the highest price for copper since March 5, which is about the same time widespread Covid-19 concerns took hold.

"I watch the price of copper closely because it is the main component in AEC electromagnets," said Bill Klaus, president of AEC Magnetics.  "This week alone, copper rose almost six percent, which is the biggest weekly rise I have seen in almost two years."  

3 copper spools aecAEC, which makes and tests 100-percent of its electromagnets at it's Cincinnati, Ohio, USA factory, advises customers to strongly consider advancing electromagnet orders to lock in current pricing.  "Magnet wire, a special type of copper, is an expensive product, with occasional volitility in its price. I try to be flexible and absorb this volitility when possibe. When I see such a strong trend, however, in this or really any major component of our products, I alert our customers so they aren't surprised if we must adjust our prices to meet the cost of materials."                                                                                                                                                 

bill computer copperCopper prices: a leading economic indicator. "Power generation and transmission, electronics, construction, automation equipment are are all heavily consumed, are all consumed worldwide and are all copper-dependent," he said. "The bottom line, rising copper prices is disappointing news for our electromagnet customers, but in the bigger picture, it's good news because it is a very strong sign of economic improvement."

 Please call Bil Klaus to discuss your industrial magnetics application. Bill looks forward to speaking to you.