The latest data from ABMS show that US copper wirerod shipments fell 16.5 percent year-on-year in April to only 131,000t, and though imports were a little up on the year before it was not enough to stop apparent consumption from falling by 16.2 percent year on year. If that was not enough, there are also reports that copper consumption in May was, at best, flat, and that there might have been some further weakening in June. So what has prompted this recent bout of weakness? In the brass mill sector plumbing tube is said to be soft, as is roofing sheet and ACR tube. Orders from the ordinance sector are also said to be slowing. There are also few signs of encouragement from the wirerod sector. True, the construction industry is still going well, as the 6 percent rise in housing starts in May indicates, but this was countered by a fall in auto demand, which caused durable goods orders to fall by 2.3 percent in April and 0.3 percent in May.
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