Metro Wire & Cable Corp. Quarterly Update (May 2024)

As we gear up for the busy summer months of 2024, we wanted to take a moment to update you on industry trends and company news. Metro Wire & Cable Corp. extends its gratitude to employees, customers, vendors, and the communities who enable us to provide comprehensive support – from material selection to procurement and delivery.

Winter/Spring Outreach

The winter and spring months were busy for the Metro Wire and Cable Corp. team, attending many National and Regional conferences, trade shows, and exhibitions. It was great to connect with clients from across the United States and North America during this time.

Major take-away’s from these events include the following:

• Renewable Energy projects are still top-of-mind for many public/private utility providers, utility electrical contractors, and major corporations. There is a healthy back-log of projects across the United States awaiting Federal/Regulatory approvals that will drive the Utility (Transmission, Distribution, Generation, Substation, etc…) landscape for at least the next decade. Metro Wire and Cable offers THESE products/solutions (and others) for the renewable industry.
• Industrial Projects supporting electric vehicle and battery expansion are still on the rise across much of the Midwest and Central states. Electrical contractors are meeting job-site demands and the constantly changing landscape in project scope through strong partnerships with General Contractors, project Owners, and Vendors. Metro Wire and Cable is assisting with these projects across the country and offers THESE value added services to assist with this constantly changing landscape.

National Landscape: Copper, Aluminum, & Material Pricing

As a prominent distributor within the wire & cable sector, we recognize the significance of keeping our partners abreast of market trends affecting our offerings. As many are aware, there has been a large year-to-date increase in the global pricing of Copper, Aluminum, and raw materials.

• Copper has soared to a two-year peak, surpassing $5.00 per pound in trading, representing nearly a 30% increase since the start of the year.
• Aluminum has also increased nearly 19% since the start of the year.
• Many factors go into these global pricing increases. Many conclude these increases are propelled by optimistic long-term demand predictions and worries over limited supply, hinting at possible scarcities on the horizon.
• Metro Wire remains steadfast in upholding the highest quality standards for our cable products. We have several project management and pricing strategies to help navigate these uncertain times, so please reach out to your point-of-contact to discuss how we can best make your job easier.

Innovation & Investment

Metro Wire & Cable Corp. has transitioned in early 2024 to a new enterprise software, inventory management and customer relationship management (CRM) platform, to allow greater ease while conducting business to business transactions, and to meet our client’s requests for greater digitalization. All of these enrichments can benefit you and make your job easier!  Please contact your point-of-contact to learn more!

Lastly, Metro Wire & Cable Corp. is celebrating a very special recent employee anniversary. Bryan Beal, Warehouse Manager in Sterling Heights, Mi, recently celebrated 45 years with Metro Wire. Congratulations on this milestone and thank you for all you have done and continue to do to make Metro Wire and Cable Corp. a leader in the industry, Bryan!

On behalf of all of us at Metro Wire & Cable, thank you for your trust and confidence. As always, never hesitate to reach out to your Metro Wire & Cable point-of-contact if we can be of assistance to you and your colleagues. We deeply appreciate your continued support, trust, and confidence. On behalf of everyone at Metro Wire & Cable, THANK YOU!