Copper Wire Prices: The US Producer Price Index for Copper Wire and Cable Against Copper Metal, 2016 to 2026

Copper wire prices more than doubled from the 2020 low

Over ten years the copper wire and cable index rose 158.8% while copper metal rose 206.5%. The biggest step up came in 2021, and a second leg started in late 2025.

The BLS copper wire and cable producer price index (series WPU10260314, December 1986 = 100) was 234.8 in September 2016 and 607.7 in September 2026, a 158.8% increase. Over the same ten years the IMF global copper price rose 206.5%, from $4,722 to $14,473 per metric ton (IMF via FRED).

Annual averages show three phases. The wire index averaged 297.1 to 304.3 from 2018 to 2020, jumped 28.2% in 2021 to 387.6 as copper metal rose 50.9%, then held between 389.3 and 418.0 from 2022 to 2024. It averaged 467.0 in 2025 and 563.4 from January to September 2026 (BLS PPI flat files).

Producer price index (PPI) for copper wire and cable: A Bureau of Labor Statistics index of prices received by US producers for copper wire and cable at the first commercial sale, not seasonally adjusted. It tracks the price change of a fixed basket, not a dollar price per foot.

BLS did not publish a July 2020 value for this series. That month is left blank in the chart and the data file, and it is excluded from month-on-month counts.

Copper wire prices rose 30.8% in 12 months to a series high

Wire prices climbed in 10 of the last 12 months to September 2026. The four latest months are preliminary.

The copper wire and cable PPI rose 19.0% from December 2025 to September 2026, while the IMF copper price rose 22.7% over the same nine months. The largest monthly wire gain in the last 24 months was 6.1% in March 2025, and the largest decline was 3.4% in August 2025 (BLS).

BLS marks June to September 2026 values with the footnote P: all indexes are subject to monthly revisions up to four months after original publication. Figures in this report will change if BLS revises those months.

Finished wire captured about 0.69 of the copper metal rise in the past year

The wire index moves in the same direction as copper metal, but by less and with a lag. The ratio between them fell 9.7% in the year to September 2026.

Dividing the percentage change in the wire index by the percentage change in copper metal gives a pass-through share. It was 0.69 over 12 months, 0.82 over 24 months, 0.93 over five years, 0.77 over ten years and 0.62 from the 2020 low. A share below 1.00 is expected, because insulation, drawing, labor and freight do not move with the copper price.

A simple regression of monthly log changes from October 2016 to September 2026 gives a same-month pass-through of 0.30. Adding the prior month's copper change raises the combined pass-through to 0.54 (0.23 same month, 0.31 one month later). Wire producers' price lists appear to catch up over more than one month.

Wire-to-metal ratio: The copper wire and cable PPI rebased to September 2016 = 100, divided by the IMF copper price rebased the same way, times 100. A falling ratio means finished wire is getting cheaper relative to the metal; the level depends on the base month, so read the direction.

The ratio peaked at 112.0 in April 2020, when copper metal fell faster than wire, and hit its 10-year low of 77.5 in May 2021, when metal rose faster. It rose to 103.6 in April 2025 and 100.9 in July 2025, months when US wire prices climbed while the global benchmark did not, before the 1 August 2025 tariff took effect. By September 2026 it was 84.4.

Copper metal moved more than 3% in 55 months; wire did so in 31

Finished wire is less volatile than the metal, but 2025 had the most large wire moves of the decade.

From January 2017 to September 2026, the copper wire PPI moved more than 3% up or down from the prior month in 31 months, against 55 months for the IMF copper price. The wire index had 6 such months in 2025, the highest count in the period, compared with 2 to 4 in other years. In January to September 2026 it had 3, and copper metal had 4.

Record metal prices, import stockpiling and Section 232 tariffs drove the moves

The 2025 to 2026 rise combines a record global copper price with US-specific tariff effects that a global benchmark does not capture.

Copper metal itself is the largest driver. The IMF global price averaged $14,473 per metric ton in September 2026, its highest monthly value since the FRED series begins in January 1992, and the World Bank Pink Sheet reported an LME average of $14,474 for the same month (World Bank).

US prices also carried a tariff premium. USGS estimated the 2025 COMEX average at 480 cents per pound against an LME average of 440 cents, and said analysts attributed the projected 14% rise in the COMEX price primarily to uncertainty over tariffs on US copper imports (USGS Mineral Commodity Summaries 2026).

Imports surged ahead of the tariff decision. USGS estimated US refined copper imports at 1,700 thousand metric tons in 2025, against 903 thousand in 2024, and yearend refined stocks at 450 thousand metric tons, against 123 thousand. Net import reliance rose to 57% from 45%.

Proclamation 10962, signed July 30, 2025, imposed a 50% tariff on semi-finished copper products and intensive copper derivative products from August 1, 2025, applied to copper content (90 FR 37727). The White House fact sheet lists wires among semi-finished products and cables among derivatives, and says cathodes and scrap are not subject. Proclamation 11021 moved the duty to full customs value from April 6, 2026 (91 FR 18201).

The wire index fell 3.4% in August 2025, the first tariff month, and copper base scrap fell 2.0%. The timing matches the exclusion of refined cathode from the tariff, but the PPI data alone cannot show cause.

Demand context: USGS, citing the Copper Development Association, puts building construction at 42% of US copper use and electrical and electronic products at 23%.

How the wire-to-metal gap bears on bids and change orders

Wire is a large, fast-moving line in electrical bids. This section reports the data; it is not pricing or contract advice.

In the 2022 Economic Census, US electrical contractors (NAICS 238210) reported receipts of $249.2 billion, materials and supplies costs of $77.0 billion (30.9% of receipts) and annual payroll of $69.1 billion (27.7%). Payroll plus fringe benefits came to 36.1% of receipts (U.S. Census Bureau). The materials figure covers all materials, not wire alone.

Over the 12 months to September 2026, the copper wire PPI rose 30.8% and the index for electrical contractors' nonresidential building work rose 5.4%. A bid priced on a September 2025 wire quote would have faced a materially higher wire cost a year later, while contractor selling prices moved far less.

Because pass-through runs over more than one month (0.54 combined over two months against 0.30 in the same month), the copper price on a given day is not the wire price a distributor quotes that day. Contracts that reference a published index often name the BLS series ID; WPU10260314 is the copper wire and cable commodity index used here. For local labor costs see the electrician salary by state data, and for job-level cost context the pricing guide.

Contractor selling prices rose 5.4% while copper wire rose 30.8%

Every copper-heavy series rose fast in the year to September 2026; finished products with less copper rose least.

Copper base scrap rose 48.3% and the copper drawing industry's wire and cable index (PCU331420331420A) rose 32.4% in 12 months. The broader nonferrous wire and cable index rose 23.0%, other wire and cable 14.0%, communication and energy wire manufacturing 7.8% and current-carrying wiring devices 2.9%. Power wire and cable (WPU10260332) is not shown because BLS published no values from June 2025 to May 2026.

As a cross-check from a commercial cost database, Gordian reported a Q4 2026 national average copper wire cost of $454.31 per thousand linear feet in its RSMeans data, up 15.85% year over year (Gordian). That series is quarterly, proprietary and measures a different product mix, so it is not directly comparable with the PPI.

The math behind the moves

Get the calculations (CSV)

Numbers to watch

1. The BLS copper wire and cable PPI (WPU10260314) was 607.7 in September 2026 (preliminary), against 464.5 in September 2025, a 30.8% rise in 12 months (United States).^[1]
2. The copper wire and cable PPI rose 46.3% from September 2024 to September 2026 and 51.5% from September 2021 to September 2026 (United States).^[1]
3. From its 2020 low of 281.8 in April 2020, the copper wire and cable PPI rose 115.7% by September 2026; the IMF copper price rose 186.1% from its April 2020 low of $5,058 per metric ton (United States PPI; world benchmark).^[1][9]
4. The IMF global copper price rose 44.8% from September 2025 to September 2026, to $14,473 per metric ton (world benchmark).^[9]
5. Over 12 months to September 2026, the wire index rose 0.69 times as much as copper metal in percentage terms; over five years the share was 0.93 and over ten years 0.77 (derived).^[1][9]
6. The wire-to-metal ratio (both rebased to September 2016 = 100) fell from 93.5 in September 2025 to 84.4 in September 2026, a 9.7% decline, meaning finished wire got cheaper relative to the metal it contains (derived).^[1][9]
7. In April 2025, ahead of the copper tariff, the wire-to-metal ratio reached 103.6 as the US wire index rose 4.9% in a month while the global copper price fell 5.8% (derived).^[1][9]
8. Copper metal moved more than 3% month on month in 55 of the months from January 2017 to September 2026; the copper wire PPI did so in 31 months; 2025 had the most large wire moves, at 6 (derived).^[1][9]
9. A 50% Section 232 tariff on semi-finished copper products and intensive copper derivative products took effect on August 1, 2025; the White House fact sheet names wires and cables among covered products and excludes cathodes and scrap (United States).^[16][19]
10. The copper wire PPI fell 3.4% from July 2025 to August 2025, the first month of the tariff, and then rose 24.0% from July 2025 to September 2026 (United States).^[1]
11. USGS estimated US net import reliance for refined copper at 57% of apparent consumption in 2025, up from 45% in 2024, with refined imports of 1,700 thousand metric tons against 903 thousand in 2024.^[14]
12. The BLS index for electrical contractors' nonresidential building work rose 5.4% from September 2025 to September 2026 and 30.8% over five years (United States).^[2]
13. In the 2022 Economic Census, materials and supplies were 30.9% of receipts for US electrical contractors (NAICS 238210) and annual payroll was 27.7% (derived).^[22]
14. The World Bank's April 2026 outlook forecast copper at $12,000 per metric ton for 2026 and $11,000 for 2027; the January to September 2026 LME average of $13,431 was already 11.9% above the 2026 forecast (world benchmark).^[13][12]

In short

• The US producer price index for copper wire and cable was 607.7 in September 2026 (preliminary), the highest value since the index began at 100 in December 1986 (BLS).
• Copper wire and cable prices rose 30.8% from September 2025 to September 2026, 46.3% over 24 months and 51.5% over five years (BLS).
• The IMF global copper price averaged $14,473 per metric ton in September 2026, or about $6.56 per pound, the highest monthly value in the FRED series that starts in January 1992 (IMF via FRED).
• Finished wire lagged the metal: over 12 months the wire index rose 0.69 times as much as copper metal, and a monthly regression puts same-month pass-through at 0.30 and same-month plus one-month-lag pass-through at 0.54 (derived).
• Copper metal moved more than 3% in a month 55 times between January 2017 and September 2026; the wire index did so 31 times (derived).
• A 50% Section 232 tariff on semi-finished copper products, including wire, took effect on August 1, 2025, and from April 6, 2026 the duty applies to full customs value (Proclamations 10962 and 11021).
• Prices that electrical contractors charge for nonresidential building work rose 5.4% over the same 12 months, far less than the 30.8% rise in copper wire and cable (BLS).

Common questions

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How we built this report

Selection: the primary measure is the BLS producer price index for copper wire and cable (WPU10260314), chosen because it is the longest-running federal series for finished copper wire and cable and is published monthly. Copper metal is the IMF global price (PCOPPUSDM, via FRED), cross-checked against the World Bank Pink Sheet LME series; the two differ by about $1 per metric ton in September 2026 ($14,473 against $14,474). Related series were taken from the same BLS flat files, downloaded on 2026-10-26 from download.bls.gov.

Inclusion and exclusion: only official statistical releases, Federal Register documents and White House fact sheets were used for figures and tariff dates. One commercial source (Gordian RSMeans data) is cited as a cross-check and labelled Tier 2. Market-research price reports behind paywalls were excluded. The power wire and cable index was excluded because BLS published no values from June 2025 to May 2026.

Conflicts: where FRED and the current BLS flat file differ for the same month, the flat file is used because it holds the latest revisions. Where the IMF and World Bank copper prices differ, the IMF series is used for derived metrics and the World Bank series for the forecast comparison, because the forecast is on the World Bank's LME basis.

Derived metrics: percentage changes use September of each base year to match the latest month. The pass-through share divides the wire percentage change by the metal percentage change over the same window. The wire-to-metal ratio rebases both series to September 2016 = 100. The regression uses ordinary least squares on monthly log changes, October 2016 to September 2026, skipping pairs that include the unpublished July 2020 wire value. Volatility counts months with an absolute change above 3%. All calculations are in scripts/build_data.py and derived_metrics.csv.

Limitations: the PPI measures producer prices at first sale, not distributor or job-site prices, and the latest four months are preliminary. The IMF price is a global benchmark and excludes the US COMEX premium. The Census materials share is a 2022 industry total and covers all materials. Correlation between tariff dates and price moves does not establish cause.

Last updated 2026-10-26 with BLS data released 2026-10-15 and IMF data updated 2026-10-22. The next BLS update is scheduled for 2026-11-13.

This report presents published data with its limitations. It is not legal, financial or investment advice.

Sources by tier

Tier 1: primary and official sources (22)

• [1] U.S. Bureau of Labor Statistics. PPI commodity data, metals and metal products (wp.data.11a.Metals10-103): series WPU10260314, WPU1026, WPU10260398, WPU102301. Dec 1986 to Sep 2026. Accessed 2026-10-26.
• [2] U.S. Bureau of Labor Statistics. PPI industry data, construction (pc.data.75.Construction): series PCU23821X23821X. Dec 2007 to Sep 2026. Accessed 2026-10-26.
• [3] U.S. Bureau of Labor Statistics. PPI industry data, primary metals (pc.data.17.PrimaryMetal): series PCU331420331420A. Dec 2003 to Sep 2026. Accessed 2026-10-26.
• [4] U.S. Bureau of Labor Statistics. PPI industry data, electrical equipment (pc.data.21.ElectricalMachinery): series PCU335929335929. Dec 2003 to Sep 2026. Accessed 2026-10-26.
• [5] U.S. Bureau of Labor Statistics. PPI commodity data, machinery and equipment (wp.data.12c.Machinery117-119): series WPU117101. 1961 to Sep 2026. Accessed 2026-10-26.
• [6] U.S. Bureau of Labor Statistics. Producer Price Indexes, September 2026 (USDL 26-1576). Sep 2026, released 2026-10-15. Accessed 2026-10-26.
• [7] U.S. Bureau of Labor Statistics. Schedule of releases for the Producer Price Index. Oct 2026 to Nov 2027 releases. Accessed 2026-10-26.
• [8] U.S. Bureau of Labor Statistics. PPI footnote codes (wp.footnote). current. Accessed 2026-10-26.
• [9] International Monetary Fund via Federal Reserve Bank of St. Louis (FRED). Global price of Copper (PCOPPUSDM). Jan 1992 to Sep 2026, updated 2026-10-22. Accessed 2026-10-26.
• [10] International Monetary Fund. IMF Primary Commodity Prices. monthly. Accessed 2026-10-26.
• [11] World Bank. World Bank Commodities Price Data (The Pink Sheet), October 2026. to Sep 2026, published 2026-10-02. Accessed 2026-10-26.
• [12] World Bank. CMO Historical Data, Monthly (Pink Sheet xlsx). 1960 to Sep 2026. Accessed 2026-10-26.
• [13] World Bank. Commodity Markets Outlook, April 2026: Table 1 forecasts. 2024 to 2027f. Accessed 2026-10-26.
• [14] U.S. Geological Survey. Mineral Commodity Summaries 2026: Copper. 2021 to 2025e, published Feb 2026. Accessed 2026-10-26.
• [15] Federal Register. Executive Order 14220, Addressing the Threat to National Security From Imports of Copper (90 FR 11001). signed 2025-02-25. Accessed 2026-10-26.
• [16] Federal Register. Proclamation 10962, Adjusting Imports of Copper Into the United States (90 FR 37727). signed 2025-07-30. Accessed 2026-10-26.
• [17] Federal Register. Proclamation 11021, Strengthening Actions Taken To Adjust Imports of Aluminum, Steel, and Copper Into the United States (91 FR 18201). signed 2026-04-02. Accessed 2026-10-26.
• [18] Federal Register. Proclamation 11032, Further Adjusting the Tariff Regimes for Imports of Aluminum, Steel, and Copper Into the United States (91 FR 34085). signed 2026-06-01. Accessed 2026-10-26.
• [19] The White House. Fact Sheet: President Donald J. Trump Takes Action to Address the Threat to National Security from Imports of Copper. 2025-07-30. Accessed 2026-10-26.
• [20] The White House. Fact Sheet: President Donald J. Trump Strengthens Tariffs on Steel, Aluminum, and Copper Imports. 2026-04. Accessed 2026-10-26.
• [21] Federal Register. Federal Register document search: "imports of copper", 2025-01-01 to 2026-10-26. searched 2026-10-26. Accessed 2026-10-26.
• [22] U.S. Census Bureau. 2022 Economic Census, Construction: Summary Statistics (EC2223BASIC). 2022. Accessed 2026-10-26.

Tier 2: trade bodies, market research, company data (1)

• [23] Gordian. Copper Price Updates (RSMeans Data). Q3 2021 to Q4 2026. Accessed 2026-10-26.