The Scrap Copper Market

Written by MRC Team | 18 October 2010

Lately it seems that whenever the copper market looks like it is going to level out or even go down it actually goes up. The actual demand for copper does not seem to be the driving force behind the rise in copper.  It appears to be more of traders speculating on the market.  This can make for some uneasy times for companies in the scrap copper business.  This is because the market can fall very quickly if speculators suddenly pull out of the market.

Right now it is anyone’s guess to what the future holds for scrap copper.  We are asked the question on a daily basis “what is the copper market expected to do?”  The answer to this question used to be that we are not certain; however there seems to be more room to go down than up.  This answer does not seem relevant any longer since the market keeps ticking upward.  The only thing that seems certain is that it is great times to trade in copper.

We have a lot of customers that are picking now to clean out and sell their scrap copper items.  This includes bare copper, insulated wire, brass radiators, copper aluminum coils, yellow brass etc.  Any items that are either composed of copper or part copper are all currently up in price.  Personally I feel that now is a great time to sell copper, why wait for the market to fall.  Some people who hold out for the market to get even higher can sometimes lose out since the market in the past has dropped abruptly resulting in lost money.  So gather up your copper and sell it soon and take advantage while you can.

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written by Frank G, October 21, 2010

I agree with Scott about selling your scrap copper now then later. I am aware that the scrap market goes up and down, and it is a good time to sell. I used to think about holding my scrap and waiting for the market to gain. But after seeing this economy go down and the cost of living going up, it seems to me it is cheaper to get what I can for my scrap, then to keep paying high interest rates on my credit cards. So I sell my metal and pay down my credit card debt.

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sales manager
written by scott cone, October 21, 2010

Frank,

I am glad to hear that you are taking advantage of these high metal prices. Who knows how long it will last. Some people wait and can end up following the market into the ground.

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