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Scrap Copper Price Value

The metal, copper has become a valuable metal especially in the automotive industry.Trains and cars would not exist if there was no copper..Mining of copper is expensive and requires a lot of labour and processes.Because of this reason industries usually recycles copper for re use.Copper fresh from the mine is expensive, and it rises substantially, this affects the recycled copper as well which rises as fresh copper rises.

Most people don’t see the wealth that comes from buying and selling these 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 don’t realize that metals are naturally heavy.Therefore, due to its weight metals can very easily reach 50 pound.

This high demand of copper has caused government agencies, construction companies, and automotive industries to bargain for the recycled copper.This metal has other uses other than in the automotive industry, you will find that copper is also used in the construction industry.Fresh copper from Latin America goes 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.The average price of copper per pound according to the U.S.automotive Recycling Index is $2 per pound.Therefore, in the U.S. of the 6.5 million automobiles that are discarded 95{7982d1f8bf1d134ce37a22985cc48acfea304bbf83b4007f1bac7899f4e67864} 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 price of scrap copper is regulated and examined by the London Metal Exchange.There are online local or international websites which are dedicated to updating scrap copper prices daily.The copper scrap prices reports can also be found from the European Union, the United states, China, Korea, and Brazil websites.In the U.S. most sites provide free reports and subscription on scrap copper prices.

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