Fluctuations in the price of copper have a direct impact on the value of an electrical distributor's inventory, and changing prices of other key materials such as steel, aluminum and zinc have their own effects on prices in the market.
The weekly bar chart still shows copper contained within the $2.70 to $2.85 range, but copper, aluminum, lead, tin, and nickel are all hanging on by a thread to their respective support lines, while zinc is correcting from its precipitous decline.
This report in the San Diego Union-Tribune says some of the pricing issues with steel and aluminum discussed in EW’s September cover story could have an impact on construction projects in San Diego’s sizzling construction market.  ...
This past Friday, inventories stood at 576,782 metric tons and Comex copper closed the week at $2.6490. Thus, inventories fell 325,036 metric tons, or 36%, and the price fell 37¢, or 12% -- closer to bear market territory.
The Copper Journal's John Gross says over the past 40 years or so, the spread inverted a number of times, often coinciding with higher copper prices, but it would be a stretch to say there was a consistent relationship each and every time.