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The London Metal Exchange is an example of a metals exchange where metal is traded as futures contracts providing pricing for defined purity and contract size. The LME Copper contract for example is for delivery of 25 tonnes of Grade A copper cathode at a specified location and priced in United States dollars. This is used to set the price of ...
In the US, scrap prices are reported in a handful of publications, including American Metal Market, based on confirmed sales as well as reference sites such as Scrap Metal Prices and Auctions. Non-US domiciled publications, such as The Steel Index , also report on the US scrap price, which has become increasingly important to global export markets.
Recycling is a major source of copper in the modern world. [35] Price of Copper 1959–2022. The price of copper is volatile. [37] After a peak in 2022 the price unexpectedly fell. [38] The global market for copper is one of the most commodified and financialized of the commodity markets, and has been so for decades. [39]: 213
The bad news, of course, is that if you're sitting on a pile of scrap, its value has tanked as well. Not all is dire, Raising cash in a hurry #14: Salvage your bank account with scrap metal
Copper wire thefts have also become increasingly common in the US. With copper prices at $3.70 a pound as of June 2007, compared to $0.60 a pound in 2002, people have been increasingly stealing copper wire from telephone and power company assets. People have even been injured and killed in power plants while trying to obtain copper wire.
Copper mining activity increased in the early 2000s because of increased price: the price increased from an average of $0.76 per pound for the year 2002, to $3.02 per pound for 2007. [2] A number of byproducts are recovered from American copper mining.