The Ever Rising Price of Scrap Copper
Copper has become a very important metal, especially in the automotive industry.Trains and cars would not exist if there was no copper.This precious metal requires a great amount of money as well as labor to mineThis is a valid enough reason for the industries to recycle copper, since they want value for money and profit, and also they want labor to manufacture not costly labor for mining.Copper fresh from the mine is expensive, and it rises substantially, this affects the recycled copper as well which rises as fresh copper rises.
A lot of people don’t see the wealth that comes from buying and selling this scrap metals.It is not hard to find metals items which could be used a scrap discarded everywhere in public areas.Items such as copper wire, which you will find discarded, actually, have value.If you have accumulated, let’s say 50 pounds of recycled copper and the scrap metal is 2 USD per pound, you will have USD 100 instantly.Many people might find that amount of money to be meager for 50-pound metal.They forget that metals are naturally heavy.This is because they forget most of the times that metals are naturally heavy.Therefore, it does not take people long to accumulate a 50-pound metal.
This high demand of copper has caused government agencies, construction companies, and automotive industries to bargain for the recycled copper.Copper, aside from making cars has also been used in construction or in urbanizing rural areas.Copper from Latin America will go for over $8,000 per ton.This leads company to recycle their copper to save money.The scrap price is usually half the price of the freshly mined copper.An opportunity is thus created, and it only takes ceasing this opportunity to cash in on this metal.
In Europe and the United States copper scrap is dominated by the automotive industry.Based on the U.S. automotive Recycling Index, copper price is $2 per pound on average.Due to this reason of the 6.5 million automobiles discarded in the U.S.,95% are recycled.The U.S. automotive industry reprocesses and reuses the scrap copper to manufacture new automobiles.In 2005 the automotive industry reprocessed 803 million pounds of used copper into new materials to produce about 12million new vehicles.
The London Metal Exchange regulates and tracks the price of scrap copper.One can find the prices of scrap copper on online local or international websites which update the copper scrap prices regularly.You can also find the scrap copper prices reports from the European Union, the United States, Korea, China, and even Brazil websites.In the U.S. most sites provide free reports and subscription on scrap copper prices.
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