What are the most valuable metals in the world today? You might have answered gold, known for its bright appearance and rarity, or even palladium, a material commonly used in catalytic converters. But when it comes to the recycling industry, only one material reigns king: copper. Let’s talk about what determines copper scrap prices and how you can potentially earn from copper recycling.
Why Copper Scrap Prices Are Steadily Rising
Often referred to as the poor man’s gold, copper is one metal that is always in demand. But did you know that it is also one of the first metals utilised by humans? Evidence suggests that copper was a popular material used to make coins and ornaments.
Presently, copper is still a highly prized material because of its electrical conductivity. It is primarily used to manufacture electronics, power cables, motors, and transformers. The global demand for copper continuously rises because of this. Statistics show that China is the world’s largest consumer of refined copper, taking more than 54% of the worldwide copper consumption volume in 2020. It is closely followed by Europe, America, and other Asian countries.
An increase in demand also means a decrease in supply. According to the Bank of America, the world is slowly running out of copper, with prices reaching USD 20,000 per metric ton by 2025.
So how do we solve this problem? Fortunately, copper is also infinitely recyclable, just like most metals. Recovered copper is being reintroduced steadily into the global supply, with Australia producing 1 million tonnes of copper waste in 2015 alone.
How To Get The Best Copper Scrap Prices
You can contribute to Australia’s scrap metal recycling industry by selling your copper scrap. Here are some factors to consider to ensure that you receive the best offers:
- Copper Grade
Copper scrap is divided into three general categories: bare bright, #1, and #2.
Bare bright copper is considered the most valuable, often found in construction, electrical cables, and transformers. Meanwhile, #1 copper is slightly less expensive, mainly used in plumbing pipes.
You can also find copper inside insulated wires, but they’re less valuable than the scraps above.
- Scrap Quality
Want to ensure that your scrap copper gets sold? Make sure to clean them before going to the recycler! You’ll need to separate them from other metals using a magnet. Copper is non-ferrous, which means it won’t stick.
Once you’ve sorted them, get rid of any contaminants on their surface. This includes oil, lubricant, and toxic substances like asbestos.
- Amount
Finally, make sure you accurately weigh your copper to get better prices. It’s best to visit a trusted recycling company offering weighbridge services to save time.
Want to find out the secret to getting excellent copper scrap prices? Sell your scraps to us at Metal Force Recycling! We can offer you up to $11.50 per kilogram, ensuring that every piece of the metal is accounted for.
In addition, we buy other types of metals, including steel, aluminium, brass, and lead. This way, you’ll have a one-stop shop for all of your scraps, saving time by calling 0403 191 732.
About The Author
Metal Force Recycling is a licensed Scrap Metal & Car Removal company that has been in the business for over ten years now. Yasin Azimi, the Chief Operations Manager at Metal Force Recycling is a professional scrap metal merchant in Sydney; dealing in all types of scrap metals & car removal services. He tries to assist you with his years of expertise in paying the best possible cash for unwanted scrap metal and junk car removal. This company also offers reliable service, instant cash coupled with a transparent, and a hassle-free process. In addition, Yasin Azimi provides you with the best deals that you won't find in any other scrap metal & vehicle removal company!
