According to the published information from National Bureau of Statistics of China, Producer Prices in the Industrial Sector for March 2021:
In March 2021, Producer Price Index (PPI) for manufactured goods rose by 4.4 percent year-on-year and 1.6 percent month-on-month. The purchasing price index for manufactured goods increased by 5.2 percent year-on-year and 1.8 percent month-on-month. From January to March, on average, the producer price of industrial products increased by 2.1 percent over the same period last year, and the purchasing price of industrial products increased by 2.8 percent.National Bureau of Statistics of China
London Metal Exchange (LME) three-month copper hit a near 10-year high of $9,617 per tonne in late February. Goldman Sachs says copper is the new oil, raises price forecast to $11,000 per metric ton.
The critical parts of the heat pumps and related products are partly made of copper. The historical high prices of copper had already impacted the sourcing price of these parts:
- Compressor, 15% to 20%;
- Fan motor, 20%;
- Wires and cables, 20% to 25%;
- PCB, 15% to 20%;
- Copper pipe, 15% to 20%;
- Valves, gauges and accessories, 15% to 20%;
The latest pricelist of our products are available upon customer’s request by Contact Us.
This article was mainly translated from an artical posted by Focus Vision (焦点视界, author:老王) on wechat. The photo is a part of the post “Copper is ‘the new oil’ and could reach $15,000 by 2025 as the world transitions to clean energy, Goldman Sachs says” and copyright of Per-Anders Pettersson/Getty Images Europe.
- Tagged Under:
- Industry News