In February the investment bank predicted a “scarcity episode” by the end of the 2022 as global stocks fell to dangerously low levels. In particular, tracking Goldman Sachs’ trajectory on the copper market has been something of a white knuckle ride.
To learn more about our metal recycling services or find out the latest pricing for your metal, you can get in touch with us via Facebook messenger, by sending us an email, giving a call on 0800 44 88 99, or by stopping by one of our drive-thrus.Copper’s short term woes frequently butt up against its longer term tailwinds, thanks to its central role in the green energy transition, making accurate forecasting difficult if not impossible. We thought this was worth a special mention as we now need to take the cost of freight into account on a weekly basis. Shipping costs-While shipping costs were considered less frequently when setting scrap metal prices, the cost of shipping has become increasingly volatile resulting from the impacts of Covid-19 on shipping.All of this makes it very difficult for us to predict what prices may do in the future-if only we had a crystal ball! However, while we may not be able to see into the future, we can and will offer you the best metal price available at the time of purchase.
#Copper prices today update
The price of a commodity is a moving target, and we update our prices regularly to reflect the value in global markets. Most markets trade in USD and this means that we need to take the NZD/USD exchange rate into account when set our weekly prices.
Below, we outlined those that have the biggest impact on scrap metal pricing: There are many factors to consider when determining the price that you get paid for your metal. Contact our team from Monday to Friday (7am to 5pm), and on Saturdays (7am to 1pm) to get the latest pricing for:įor those of you wanting to dig a little deeper into why scrap metal prices aren’t fixed, we’re here to uncover the mystery. We pride ourselves on paying YOU the best scrap metal price available at the time of purchase. Keep in mind we will need some information about the metal parcel/items that you want recycled and which location you will be visiting so that we’re able to give you the right price and most up-to-date info. To give you the most accurate and up-to-date metal pricing, we update our prices every Monday. All of this is factored in when we give you a price for your scrap metal.
To make matters more complex, prices are influenced by global market indices and depending on the date, pricing may vary. Some metal items are considered ‘clean’, while others require cleaning, sorting, and/or processing before they can be sent to smelters (where they are turned into raw materials to make something new). Prices differ broadly between commodities and even across the various grades within the same commodity. When it comes to scrap metal prices, there are different metal commodities (such as copper, brass, and steel to name a few), and various grades within each commodity (e.g., copper domestic, copper #1, and copper #2). Wondering how much your scrap metal is worth? We wish we could give you a simple answer, but not all metal is created equal.