SCOSCHE INDUSTRIES WEIGHS IN ON INCREASING COPPER PRICING
Commodity Costs Continue to Rise
Oxnard, Calif, (June 14, 2006) — Who would’ve of thought copper would turn to Gold…in value anyway. Scosche Industries, a leader in mobile electronics aftermarket accessories, is feeling the impact of the continuing rise of copper pricing. Copper, which is used in many of Scosche’s aftermarket products, including wiring kits, speaker wire, primary wire, and RCA audio cables, has seen a surge in recent years and all-time record highs this year.
Copper pricing began to rise in June of 2003 when it was at $1,600 per ton. Its rise continued steadily, in March of 2005 copper was $5,000 per ton and then skyrocketed up to its current price of $9,800.
The rise of commodities affects the entire aftermarket industry. According to Kas Alves, vice president, sales and marketing, Scosche Industries, “Scosche keeps a close watch on material costs that allow us to make decisions on stockpiling materials, which we did with copper. We were able to absorb cost increases for two years, however with the uncontrollable exponential rise of copper prices, our current supply has run out.” He continues, “Scosche will continue to innovate and design products to the highest possible quality at the right price. This is inflation and it affects everyone in all industries.”
The rise of copper is affecting not only the automotive aftermarket, it is industry-wide. James Carlini of the Wisconsin Technology Network writes “With copper pricing skyrocketing, fiber-optics is the way to go.” He continues, “The cost of raw materials has shot up dramatically in the last year and some as recent as the last couple months. This is according to a May 2006 Communications Supply Corporation (CSC) newsletter that focused on the cost of communications cabling:
Copper prices have increased by 92 cents per pound since the beginning of April with price increases sometimes approaching 20 per pound cents per day. To put this in perspective, copper prices increased 75 cents per pound in all of 2005. This equates to a 58 percent increase in copper since January 2006 and a 138 percent increase since January 2005.”
A recent article in USA Today states that “copper prices have nearly tripled in the last year as demand for a variety of metals has soared throughout the world, especially in rapidly expanding India and China. Skyrocketing copper prices have led to a rash of thefts across the USA of everything from electrical wires to plumbing pipes to vases from grave markers as vandals seek to sell the pricey metal to recyclers.”
Scosche Industries is dedicated to the automotive aftermarket industry and will continue to provide quality products at competitive prices. Any direct questions regarding copper pricing can be directed to sales at 800-363-4490.
Scosche Industries, founded in 1980 by Roger and Scotia Alves, is a leading manufacturer of high quality car stereo installation accessories and products. The publisher of the Auto Sound Encyclopedia, Scosche Industries manufactures and markets four distinct lines of product. These brands include Scosche, EFX, Accumat and SoundKase. An innovator of the BlueLife system enabling wireless iPod and MP3 player control via Bluetooth, Scosche continues to expand its capabilities. With a dealer network of over 2,000, numerous O.E.M. products, and 52 patents, Scosche Industries is a proven leader in the automotive aftermarket business. For more information visit our website at www.scosche.com.
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