Why are scrap copper prices continuing to climb?
There are a number of factors to consider during this latest run up that go beyond the well established AI trade and electrification movement. First, the London Metal Exchange inventories have declined from 390,000 metric tons in May to 244,000 metric tons, including a 5,000 metric ton decline just yesterday! This inventory pressure and perceived potential long term shortage concerns always raise prices and this inventory movement downward will continue to support strong pricing.
Just this week a huge storm in Chile shut down access to a few mines in that copper rich country. According to this Start Up Fortune article this storm which took out roads and caused landslides could negatively impact a production number from Chile that had already been cut earlier in the year. As the article states it never takes much to put pressure on prices and with the negative inventory story out there this only contributes.
Sahd Metal Recycling reviews scrap metal prices daily and stays current with world events that make the markets move, giving you access to the latest and most up to date information on pricing. Our industrial customers have pricing that is indexed against the London Metal Exchange, so they can follow moves in the LME and will always know that value of their metal before they sell it.
Our regular pricing page is constantly updated and we just moved up our pricing for bare brite copper, number one copper tubing and wire, number two copper, insulated copper wire, THHN, copper aluminum radiators and brass among other items. We always offer price bumps for over 1,000 pounds of copper or formulas for our industrial customers.
