Silver
While the majority of industrial wire and cable is comprised of copper conductors, silver is commonly used to plate copper conductors in higher temperature applications.
Although silver has better conductivity compared to copper and aluminum, the metal has always been more expensive.
Goldman Sachs analysts are reiterating their predictions and forecasts of silver prices increasing (up to $33 an ounce) due to recent U.S. plans to move forward with increasing alternative renewable energy production in solar power and 5G technology.
Top silver producing countries such as Mexico and Peru are still recovering from pandemic lockdowns being implemented at major mining companies which cause temporary halts in production.
Non-Metal Raw Materials & Other Costs
Additional important non-metal raw materials for wire and cable production such as critical resins and polymer chemical compounds (found in insulation and jacketing of wire and cable) are also increasing in price.
Recently, one of the largest North American based wire and cable manufacturers indicated that their insulating and jacketing materials have recently increased in cost by between 10-25% depending on the compound and will be implementing broad-based price increases in the Spring of 2021.
Many manufacturers have announced an increase in costs for packaging material commonly found in wire and cable packaging, primarily those based on wood, with increases of between 5-10% on materials such as plywood, wooden reels, and cardboard packaging materials.
Freight, logistics, and transportation costs have also increased throughout the market as the global economy recovers from the pandemic.
Jinhua Huacheng Medical Appliance Co.,Ltd.
Manufactuer of disposable medical products: Electrosurgical pencil,grounding plate,skin stapler and ECG electrode
