Copper: Scrap Metal is Valuable

Many folks may have valuable scrap metal on their property without knowing it. A few old ends of copper piping or a pile of old aluminum can bring dollars to your wallet. Copper, in particular, can fetch some amazing prices these days.

Perhaps you have a supply of copper or other scrap metals sitting around. If so, it may be valuable for you to realize what can metal be used for.

Copper: Many Uses Including High-Tech

Because of its high conductivity, copper is important in the manufacture of electric generators, electrical wiring, and the wires in appliances, computers, lights, motors, telephone cables, radios, and televisions.

Copper is particularly important in the modern high-tech market. Take a look at the electronic vehicle revolution. Each new electric vehicle requires 66.3 kg of copper to produce. That is at least two times more copper than is needed to build a conventional vehicle. In addition, charging stations for electric vehicles also require large amounts of copper. That’s a lot of copper and the demand for this important metal is expected to increase as more people buy and drive electric vehicles.

Sources of Copper

Copper is obtained by mining or by recycling. Chile is by far the world’s largest producer of mined copper, producing 5.7 million tonnes of this conductive metal in 2020. The United States was the fifth largest producer in 2020, behind Chile, Peru, China, and Congo.

Recent Prices for Copper

Copper prices vary quite a bit and are quite volatile. Lately, prices for copper and other metals have been quite high, making today a good time to sell your scrap copper. Currently, copper prices are upwards of $4.50 per pound.

All this information indicates that now is a good time to sell your scrap copper. Do so before the price swings down again.