What is the price of number 1 scrap copper

Rockaway Recycling accepts many types of scrap metals, including #1 Bare Bright Wire and other copper materials. Electricians and others may come across #1 Bare Bright Wire from cables and other electrical wires they may work with. #1 Bare Bright Wire should always be separated from other wires and copper materials when bringing it into our facility. #1 Bare Bright Wire will come out of many cables and wires like insulated copper cable, THHN wire, and insulated copper wire. #1 Bare Bright Wire should be free from paint and heavy corrosion. Also be sure to separate your #1 Bare Bright Wire from your tin-coated copper wire, which will have silver outside.

Recycling Scrap Bare Bright Wire In New Jersey

If you have never been to Rockaway Recycling, be sure to contact us for any questions about preparing your materials before heading to our facility. You can contact us directly through our website or by phone. If you need directions to our facility, be sure to check them out online, along with our operating hours, history, and more. For larger scrap metal loads in the Tri-State area, Rockaway Recycling can provide you with the proper equipment and containers to get the job done. If you have questions or would like to schedule a scrap pick up, you can contact us directly through our website. For scrap tips and information to make more money scrapping, be sure to check out our YouTube Channel and Let’s Learn to Scrap tab.

We have had customers asking us to learn about the current prices of copper and that’s what we have done at Rockaway Recycling with our new pricing charts. One of the best parts of RockawayRecycling.com has been that we constantly updating our prices and making sure that our customers know where the markets are and where they could be headed. Now when you are wanting to know the current price of bare bright copper is easy when you work with Rockaway Recycling to always go to our pricing page and you will be able to instantly find out where the prices are today.

See Current Bare Bright Copper Prices

Our bare bright pricing page has not only daily prices about #1 copper wire, but also historical pricing charts showing the last 30 days of bare bright prices. Another really cool feature that we have is the 30 day average price for bare bright this way you can look at today’s prices and compare it to the last 30 day average.

(Last Modified: December 28th, 2022, 12:40 pm)Metal/MaterialCurrent Price#1 Bare Bright Wire$3.25/lb#1 Copper Tubing/Flashing$3.05/lb#2 Copper Tubing/ Bus Bar$2.85/lbInsulated Copper Wire$1.05/lbTHHN Cable$2.22/lbInsulated Cable$2.40/lb500-750 MCM (Bare Bright Inside)$2.65/lbCopper Transformers$0.20-$0.30/lbSmall Electric Motors$0.20-$0.25/lb

When you think of precious metals, gold, silver, and platinum are probably the first to come to mind. But, what if we told you that copper scrap metal is quickly becoming the next big metal?

So, when will scrap copper prices go up?

An analysis titled “Copper is the New Oil,” Goldman Sachs predicts copper will approach $51,000 per metric ton by 2025.

So, why is the price of copper scrap expected to increase so much, so quickly? In this article, we will explain why there is an increase in the demand and price of copper and what you can do to reap the benefits.

First, let’s talk about copper in today’s day and age.

Transition to Renewable Energy Increases Demand for Copper

As more and more governments realize the severity of present-day climate change, such as an increase in global temperatures and natural disasters, there has been a surge in news about the positive effects of renewable energy.

As we learn new ways to convert to renewable energy, new resources are receiving more attention. And one of those resources is none other than copper!

The role of copper in renewable energy has drastically increased as copper is essential in the production of:

• Solar panels
• Wind turbines
• Electric vehicle (EV) batteries
• EV charging stations
• Other clean energy alternatives

With so many corporations turning to renewable energy, it is predicted that, by 2030, there will be an increase in copper demand by up to 900% on an annual basis to 8.7 million tons.

Unable to Sustainably Meet Demand for Copper

You may be saying, “Renewable energy is a good thing, right?” Yes, it is. But, when the demand of a natural element increases, there needs to be a sufficient supply of it to keep up.

The problem? We are unable to efficiently meet these demands for copper. Here’s why.

Sustainably Unearthing More Copper is Difficult

In order to get more copper, you need to mine, or unearth, the copper orebodies. As we mine more and more copper, we begin to use up all of the easily accessible orebodies. This leaves us with only the most difficult locations to mine for more. These locations include places like the Arctic or the deep sea.

Not only does it become difficult to locate unearthed copper, but it also gets harder to mine it sustainably. This is because these orebodies are lower grade and release toxins like arsenic, a chemical element that has the potential to cause cancer and harm the environment.

Along with this major problem, copper mine operations also face a lot of opposition.

Opposition Against Mining Leads to Legal Battles

With it being difficult to mine copper sustainably, there has been an increase in public outcry against these mining projects. Furthermore, political opposition from local and international governments are causing projects to be put off or canceled altogether.

One reason for the outcry is that about half of the orebodies left are close to Indigenous people’s lands or areas protected by biodiversity conservation. The only copper orebodies left are often ones located in areas that are already struggling with a water crisis. This leaves the miner in competition with other industries for resources such as water.

With miners being unable to keep up with the demand, it is likely we will see a rise in copper prices.

Copper Scrap Prices May be On The Rise (Supply vs Demand)

When there is a high demand and low supply (in this case, a very hard to get to and environmentally challenging supply), prices will rise. For copper, a major supply gap of over 8 million tons from now through 2030 is currently foreshadowed.

With that being said, copper prices have risen by nearly 80% in 2021, and it does not look like the climb is slowing down anytime soon.

So, what does this mean for you?

Copper: The Scrap Metal of the Future

While buying new copper is becoming increasingly expensive, there is a nice alternative: recycled copper scrap metal.

When there are limited resources, recycling metal becomes more important than ever.

You can trade-in your copper scrap metal or buy recycled copper as a way to save your business money. This not only has a positive environmental impact, but also an economic one. Keep reading to learn how scrapping copper can benefit you.

Environmental Benefits of Recycled Copper

Recycling copper benefits the environment in several ways. For instance, while trying to keep up with the demands for these metals, we can quickly run out of resources and sacrifice the environment in the mining process. As mentioned earlier, most of the locations left to mine copper would cause major environmental issues.

Furthermore, when these metals are disposed of improperly and end up in landfills, they risk toxic exposure to vital elements we use every day, such as the air we breathe and the water we drink.

Luckily, recycling copper metal scrap keeps metal out of the landfills and leaves our Earth’s wild places unmined.

Economic Benefits of Recycled Copper

Did you know that recycling scrap metal like copper can save your business money with possible tax exemptions and a reduction in disposal costs? Not only that, but it can also help the global and national economy too!

As recycling efforts increase, supply and demand will become more level. Then, we can expect a slow down in the rise of the cost of copper.

So, how can you reap the benefits of copper scrap metal for yourself?

Recycle Your Copper with GLE Scrap Metal

If you want to help save the planet and put more money in your pocket, recycle your copper scrap metal with a trusted environmentally-friendly recycling center like GLE Scrap Metal.

At GLE Scrap Metal, we sustainably process ferrous and non-ferrous metals, including copper scrap metal. We offer recycling services to the public, businesses, and demolition companies.

Call 855-SCRAP-88 to learn why GLE Scrap Metal is the perfect metal recycling corporation for your copper scrap metal.

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