Copper is easily one of the most widely used compounds around. It’s used in factory applications, construction, electronics, and power generation. We likely own and use several products that use copper in some way or the other. It’s an essential part of almost every industry out there. Recently, copper prices have seen a lot of shifts owing to the pandemic. After historic lows, the prices are now rising as the world recovers. However, with prices on the rise, the best way to get copper can be by recycling scrap metal. There are several benefits to this process, and you can keep reading below to learn some reasons why copper is so expensive.
Why are copper prices so high?
Trade wars
The first reason for high copper prices is the trade wars that are going on between the US and China. This has been a major contributing factor to the metal’s price hike. The two countries have been slapping tariffs on each other, which has made it difficult for companies to trade with each other. This, in turn, has led to a decrease in the demand for copper and other metals, as companies are hesitant to invest in them.
The pandemic
The second reason is closely linked to the first – the outbreak of Covid-19. The pandemic caused a worldwide economic shutdown, which had a domino effect on different industries. This led to a decrease in the demand for copper and other metals as factories closed down. However, now that the world is slowly opening up again, the prices of these metals are seeing an uptick.
Supply and demand
The third reason has to do with the basic law of economics – supply and demand. The current situation in the market is such that there’s more demand than there is supply. This is because, as mentioned before, the world is just opening up again after the pandemic caused a decrease in the demand for metals. Now that factories are starting up again, they need metals like copper to continue their operations. However, the supply has not increased at the same pace, which has led to a hike in prices.
Recycling – the best way to get copper
With all this talk about high copper prices, you might be wondering what the best way to get your hands on some is. And the answer is – recycling!
There are several reasons why recycling is the best way to get copper, even when prices are high.
It’s sustainable: Recycling scrap metal is one of the most sustainable ways to get your hands on copper. It doesn’t require mining or extracting new copper from the ground, which can be harmful to the environment.
You save money: Even though copper prices are on the rise, recycling is still cheaper than buying new copper. This is because the process of mining and extracting copper is expensive, and these costs are passed on to the consumer.
You get more metal: When you recycle scrap metal, you can get up to 95% of the metal back. This means that you get more bang for your buck, so to speak!
If you’re looking for a sustainable and cost-effective way to get your hands on copper, recycling is the way to go. And Super Metal Recycling is the best place to do it! We recycle all kinds of metals, including copper, and we pay top dollar for them. So, what are you waiting for? Bring your scrap metal to us today!
If you are at Seaford, Victoria 3198, below is the best way to visit us.
Super Metal Recycling
345 Frankston – Dandenong Road, Dandenong South VIC 3175
(03) 9706 4909
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