- Copper prices are up as we start off the week here at our scrapyard!
- We are seeing it almost at $4 again sitting right around $3.95, which is up around 1.8% on the day
- Global copper smelting activity fell to the lowest level in two years in April due to maintenance. shutdowns in China and slower operations in North America.
- This decline in global smelting activity is a big reason why we have seen copper price make this turnaround today, and this activity is expected to remain low due to more planned shutdowns coming.
- In nickel, global smelting activity also decreased in April, and the Chinese nickel pig iron index reached its lowest level since February 2022.
- So this is a positive sign for stainless steel as well because of nickel being a main component in its chemistry.
- We will keep you updated on all of this metal news as we get more information!
Scrap Metal Price Update
Copper prices are on the move, and Sahd Metal Recycling has updated all of its prices here: https://recycleyourmetal.com/home-2/. Because we believe in operating with integrity
