Moving to a new house and thinking which wire will be the best? If I had to move to my new abode, I would want every little detail to count. I’m sure the case is no different for you as well.
Electric circuits and wiring might not be visible to the eye, but it counts a lot.
Now, a clear favourite is Romex wires due to their high quality. But why is Romex wire so expensive? There are various reasons such as increased manufacturing cost, higher copper price, type, global market instability.
Our article will touch upon the factors that make the Romex wires so expensive.
Can different types of Romex NM-B cables affect prices?
There are different types of Romex cables considering based on the following two categories as size:
- 6 gauge
and amperage rating:
- 15-amp circuit
- 20-amp circuit
- 30-amp circuit
- 40-amp circuit
- 55-amp circuit
Below are the price lists of a few commonly ordered Romex cables
Romex Price List Table
|Cable||Price per Foot ($)|
|Romex Southwire 14/2 with ground Romex residential indoor electrical wire type NM-B||0.71|
|Romex Woods 12/2 NM-B, W/G||0.98|
|Romex Southwire 12/3||1/17|
|Romex Southwire 14/3 residential indoor electrical wire NM-B||0.85|
|Romex Southwire 10/2 residential indoor electrical wire NM-B||1.24|
|Romex Southwire 10/3 residential indoor electrical wire NM-B||1.72|
|Romex Southwire 8/3 residential indoor electrical wire NM-B||3.35|
|Southwire 55671723 Primary Wire, 12-Gauge Bulk Spool, 100-Feet, Yellow||0.33|
|Romex Woods 6/3 NM-B, W/G||4.30|
Can Sizes Of Wire Affect Prices?
Does the size of wire have any effect on prices? Yes, it does have an effect on the sizes size of the spool moreso. Under is attached a table showing how length might affect prices:
What’s the Role of Raw Materials in The Price Increase?
In 2020 there was a 22% rise in the price of copper, one of the core elements of any wire.
2021 was no different, while in 2022, it has been projected that the price of copper will soar high to USD 10,000 per MT from USD 7500 per MT in the previous year.
And the increased price of copper is driving the price of Romex wires.
Though, copper prices are forecasted to increase till 2022, after which projected prices have shown to fall back slightly.
Thus I can presume that the prices of wires, in general, will become a little bit more affordable if not reasonable.
However, the rule of thumb for economics is that the future is unpredictable, and so are the prices of raw materials.
Does the Global economy affect the price of copper?
You might be wondering why the high tide in prices after 2021. Well, it depends a lot on global economics. The economy of China was badly bruised by the pandemic, which has just begun to recover.
China being the world’s largest manufacturing country, produces billions of electronic items which require copper thereby increasing its demand.
With China’s escalating demand for copper increases the growth of demand throughout the globe. Higher demand and, alas, higher prices.
As for other raw materials, including Silver, Resin, packaging materials, etc., their prices have also gone up significantly, making wires pricey.
Does Transportation Have an Impact on the Price?
For a wire to be produced, its raw materials must first be carried to the respective factories.
After this point, there might be a few smaller transportation costs, and lastly, the products being moved from the factories to the suppliers and distributers.
Having to be transported across multiple stoppages with the rising price of fuel makes shipping costs expensive.
Cost of Labor
Unfortunately, after the COVID-19 pandemic, along with a shortage of labor, the cost of each labor has increased too.
Post-pandemic, when every individual had their survival in question, demanded a raise in their wages. This demand, if not granted, may ram the industry down to the ground. Consequently rise in wages was synonymous with a rise in operational costs.
Why Is Romex Wires So Highly Regarded?
Romex wires stand out among all options because of their premium quality ensured by multiple layers of insulation and copper interior.
The more layers of gauge, the larger the flow of electricity can be sent through the wire.
Also, the larger the amount of electricity that must be conducted, the higher the prices. There is also a phenomenon in business termed brand value which we all are aware of at this point.
So, you have to pay for the assurance the brand name provides.
Is Romex A Cable or A Wire?
Romex is a brand of wire company with Romex as its trade name. The wire is Non-metallic on the outside (plastic sheathing) with two or more metal wires on the inside.
The general structure of a wire has about three wires- a neutral, conducting, and grounding wire. The wires are commonly color-coded to ease handling and reduce errors.
Is It a Must for Me To Use Romex Wires?
No, it isn’t. There are plenty of other cheaper alternatives that can be used, some of which are listed below:
- Wirenco 12/2 cable 14-gauge (double walled insulation)
- THHN wires 3. UF-B cables 4. BX cables
Unfortunately, the geopolitical situation and its effect on raw material prices is driving up costs of Romex wires. But despite them seeming a bit expensive, they are worth the investment.