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Copper prices fall back again |
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Thursday, 15 March 2007 |
 In 2006, an increase in the price of copper - a key component in most refrigeration and air conditioning systems - forced many manufacturers to raise prices. However, since the highs of last summer, copper prices have fallen back a little, reports "RAC" magazine. Nevertheless, prices are still significantly above the normal, and look like remaining so for the near future.
While the copper market is expected to cool off in the first few months of 2007, due to a quiet period in the US economy, the price of aluminium is expected to rise over the next few months. Some market analysts are predicting that, over the coming year, the price of aluminium could hit the $3000 a tonne mark for the first time.
One of the reasons that prices fell back over the second part of 2006 was that China's voracious manufacturing industry took a pause for breath.
The signs are, however, that the pause is coming to an end, and that China is preparing to resume its previous breakneck rate of growth - with consequent impact upon the global supply (and price) of commodities.
Overall, the average price of both copper and aluminium in 2007 is forecast to exceed that in 2006.
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