Price going way up.
Price going way up.
(OP)
BEWARE IF YOU ARE QUOTING ANY JOBS WITH WIRE!!
I am working on a control panel and went out to buy some regular THWN. I got 130ft of 14AWG. It cost me $37.
I walked out the door and then it dawned on me. This little coil of wire cost me THIRTY SEVEN DOLLARS!!!
This wire was costing me 27.5 cents per foot.
Subsequently (3 weeks later)I went to OSH (local large hardware chain) to get 15 feet of green THWN 14AWG (ground) wire. It was 35 cents a foot!! The guy said, "Oh yeah the price has gone waaaay up! We were told to mark it up from 9 cents a foot to 22 cents a foot and as soon as we were done we were told to mark it up again to 35 cents."
This represents 380% increase in the cost of a fundamental electrical component. The panel I built used about 700 feet of wire. I ordered all of my wire just before this price jam started. I shudder to think what a few weeks might have cost me.
Now can somebody explain why this absurd price hike is happening and will it stay this high?
I am working on a control panel and went out to buy some regular THWN. I got 130ft of 14AWG. It cost me $37.
I walked out the door and then it dawned on me. This little coil of wire cost me THIRTY SEVEN DOLLARS!!!
This wire was costing me 27.5 cents per foot.
Subsequently (3 weeks later)I went to OSH (local large hardware chain) to get 15 feet of green THWN 14AWG (ground) wire. It was 35 cents a foot!! The guy said, "Oh yeah the price has gone waaaay up! We were told to mark it up from 9 cents a foot to 22 cents a foot and as soon as we were done we were told to mark it up again to 35 cents."
This represents 380% increase in the cost of a fundamental electrical component. The panel I built used about 700 feet of wire. I ordered all of my wire just before this price jam started. I shudder to think what a few weeks might have cost me.
Now can somebody explain why this absurd price hike is happening and will it stay this high?
Keith Cress
Flamin Systems, Inc.- http://www.flaminsystems.com






RE: Price going way up.
Gunnar Englund
www.gke.org
RE: Price going way up.
But it seems to be a bit overdone:
http://qu
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RE: Price going way up.
motors
copper theft
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RE: Price going way up.
Here is the report:
June 12 (Bloomberg) -- Copper futures in London fell, staging their biggest three-day decline since October 2004, on concern a rally that drove the metal to a record last month was overdone. Prices in China also tumbled.
Copper has dropped about 20 percent from its all-time peak, and other commodities including gold, silver and zinc have declined, on concern that rising interest rates will slow global economic growth. Central banks from Asia to Europe boosted interest rates last week in a bid to curb inflation.
``Consumption has suffered because buyers are wary of price volatility,' said Shen Haihua, Vice President of Maike Futures Co. by phone from Shanghai today. ``Consumers aren't buying because they hope prices will fall further.'
Copper for delivery in three months on the LME dropped as much as $340, or 4.7 percent, to $6,880 a ton today. Metal for delivery in August in Shanghai fell as much as 3,340 yuan, or 5 percent, to 63,280 yuan ($7,900) a ton. The contract has fallen about a quarter since reaching a record on May 15.
``Investment funds have probably withdrawn money from commodities,' said Yuan Fang, a trader at Shanghai Dongya Futures Co., by phone. ``The rally was overdone. Shanghai prices fell more aggressively than London after stockpiles rose.'
Copper inventories in Shanghai rose about 11 percent last week to their highest since Feb. 23. Stockpiles in exchange warehouses in London, New York and Shanghai jumped 3 percent to 172,503 tons as of June 9 from June 1, Bloomberg figures show.
Investment Funds
Speculators have been attracted to copper by forecasts that global demand will outstrip supply this year. Investment funds have increased their holdings of commodities to gain greater returns than those available from stocks and bonds.
HSBC Holdings Plc estimated last month that about $100 billion will be invested in commodity indexes by the end of 2006, compared with $10 billion at the end of 2003.
Five out of eight traders, analysts and investors surveyed by Bloomberg News on June 8 and 9 said copper will drop on the London Metal Exchange this week. Three forecast a rise.
``A 50 percent decline in price would still leave copper at the previous all-time high,' David Threlkeld, president of Resolved Inc., a copper trading company in Scottsdale, Arizona, said in the Bloomberg News survey.
Hedge Funds
Hedge-fund managers and other large speculators increased their net-short position in New York copper futures in the week ended June 6, according to U.S. Commodity Futures Trading Commission data released on June 9.
Speculative short positions, or bets prices will fall, outnumbered long positions by 7,302 contracts on Comex, the Washington-based commission said in its Commitments of Traders report. Net-short positions rose by 930 contracts, or 15 percent, from a week earlier.
Each Friday the CFTC publishes aggregate numbers for long and short positions for speculators such as hedge funds and institutional investors, as well as commercial companies that buy or sell futures to protect against price moves.
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RE: Price going way up.
RE: Price going way up.
An electrical contractor friend of mine now quotes all of his projects with wire and transformers separated out. He then tells the buyers that those prices are good for only the remainder of the day when he turns the price in to them. If they want a firm price, he triples it (to get the point across that they can't fool around and wait).
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RE: Price going way up.
Our office move was delayed for 6 months, waiting for galvanized 2x4s, since all the supply got sucked up by China in the 2004-2005 time frame.
TTFN
RE: Price going way up.
I wouldn't count on those old mines re-opening just yet...
RE: Price going way up.
I was wondering if the price would drop. I was told that electrical contractors had lined up at local places to get wire for previously quoted jobs. They would be storing it in their back yards, under their beds, etc., just so they wouldn't be ruined when it came to actually doing the work.
My assumption is that the price goes up. People notice and react. There is a sudden run on wire causing what I saw; price hike(larger than expected but material driven), followed by another immediate one(caused by a 'run' on wire). I would now expect a drop back near the original increase.
We can hope...
Keith Cress
Flamin Systems, Inc.- http://www.flaminsystems.com
RE: Price going way up.
RE: Price going way up.
Bigbillnky,C.E.F.....(Chief Electrical Flunky)