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    Final Thoughts

    Written by Michael Cowden


    I attended the Heating, Air-conditioning & Refrigeration International’s (HARDI’s) annual conference earlier this week in Las Vegas. It was a great excuse to get out of the cold and snow in Chicago. And I applaud HARDI for attracting more than 2,200 attendees!

    I was there for a meeting of HARDI’s Sheet Metal Council. I made a short presentation and moderated a panel whose members have a lot more industry knowledge than I do. And I appreciated them sharing their expertise, and the good questions and different perspectives from folks in the audience – a mix of companies in the steel, HVAC, and distribution.

    Michael Cowden

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    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.