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Copper price spike in 2024
2024-04-22, Scrap copper prices
In the second half of April 2024, the price of copper rose to 9,749 US dollars per ton. This is the highest level of the copper price in the last two years. This impressive growth surprised both market participants and economic experts.
Compared to the beginning of the year, the price of copper increased by as much as 15 percent. This sudden rise in prices has created a lot of interest among investors and industry. Why did the price of copper rise so much?
One of the factors that could explain this increase in the price of copper is the recovery of the industry in recent years after the economic disruption caused by the pandemic.
Scrap metal prices are different. Which scrap metal price is higher?
2024-03-25, Scrap metal prices
The price of steel scrap, like that of non-ferrous metal scrap, is often not stable and changes frequently. The price of scrap metal mostly depends on the demand for this raw material in the market. The higher the demand for metal in the market, the higher the price of this raw material on metal exchanges. When the price of metal increases in the metal exchanges, the purchase prices of scrap metal also increase.
Scrap metal prices are different in different countries. Information can be found on the Internet that the highest price of scrap metal is in Turkey and has been between 300 - 400 euros per ton for several years.
The price of heavy metal scrap is higher, while the price of thin and light metal scrap is lower. This is due to the higher transportation cost of light metal scrap. For example, car brake discs have a lot of weight and a small volume, so scrap car brake discs always have a high price.
The highest price of scrap metal remains in Turkey
2024-03-05, Scrap metal prices
At the beginning of 2024, it is possible to review the price of scrap metal in 2023. From the presented graph, we can see that last year the price of scrap metal remained around $380 per ton for a longer period of time. However, comparing the price of scrap metal at the beginning of the year and at the end of the year, it could be said that the price did not change much and remained on average at the level of $400-420 per ton. Evaluating the price of scrap metal by country, we can say that the highest price of scrap metal was in Turkey.
In the period of the first two months of 2024, the price of scrap metal also had no significant changes and averaged around $410 per ton. The price of scrap metal fluctuates depending on various factors such as demand, supply, market conditions, and the global economy.
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