alone, up 26 percent from 214,787 mt during the 11 months of 2021, according to the latest U.S. This has led to increasing imports of copper and brass scrap by Asian countries, especially China and India, from exporters like the U.S.įor example, between January and November 2022, China imported 270,430 mt of copper and brass scrap from the U.S. Globally, focus has increased on the usage of recycled copper and its alloys to narrow the supply demand gap for the material. The availability of primary copper is expected to remain soft throughout 2023 given the political protests, drought situation, labour issues, and lower ore grades at copper mines in Peru and Chile, the world's largest primary copper producers. Still, in the long term, both ICSG and ING expect improved copper demand following the increasing use of this metal in electric vehicles (EVs) and the renewable energy sector as the world consciously moves toward fulfilling its net-zero carbon goals by 2050. Still, supply is expected to remain tight as ING projects copper prices to remain well above historical levels. Global consumption is also expected to decelerate and grow at a slower pace of 1.4 percent to 26.18 million mt in 2023 against a growth of 2.2 percent to 25.82 million mt last year.įinancial house ING's research arm has also forecast a weak short-term outlook for the copper market amid a slowdown in China's economy, the largest consumer of copper and copper scrap. For instance, the International Copper Study Group (ICSG) has forecasted a growth in copper consumption and demand despite recessionary pressures decelerating its growth this year.Ī copper market deficit of 325,000 mt (metric tons) in 2022 is forecast to narrow down to 155,000 mt in 2023 by the ICSG. Some projections also expect the global copper market's growth to slow down before accelerating again next year. The price of copper regained ground to cross the $4/pound mark as January 2023 began, and though the price has remained persistently above this mark through most of January, it is driven this time around by a lack of supply rather than strong demand, which defined the first quarter of 2022. Trends that defined the beginning of a supercycle toward the end of 2021 into the beginning of 2022 have returned, but for different reasons. The prices per pound for scrap metal stated above should help you find the best scrap metal prices per pound in New York if you simply compare the prices on our site to the prices per pound offered to you by your local scrap yard.There's a sense of déjà vu in the copper market as 2023 begins. The prices they are currently showing for steel is $0.06 - $0.09, $0.06 for light iron and $0.09 - $0.12 per pound for cast iron. The price per pound they pay for sheet aluminum is $0.40 per pound, they are currently paying $0.55 per pound for alloy wheels, $0.42 per lb for cast aluminium and $0.57 for clean aluminum wire. The prices they offer for THHN cable and insulated cable are $1.60 and $1.75 per pound and as for electric motors they have their current buying prices advertised as $0.16 to $0.18 per pound. The price they have displayed on their site for cat 5/6 insulated copper wire is $0.58 per pound. They are paying $2.70 per pound for #1 bare bright copper wire, the prices they have advertised on their website for #1 and #2 copper tubing is $2.45 and $2.25 respectively. Then there is Rockaway Recycling, also not based in New York and the latest scrap metal prices they are offering for various metals is as follows. The price per pound they are currently offering for scrap aluminum sheets is $0.22 to $0.40. They are paying $0.25 to $0.35 per pound for aluminum cans, many people collect aluminum cans for the sole reason of selling them when they have built up a collection of them that is worth selling. They are at the time of writing this, paying between $0.10 and $0.16 for scrap lead acid batteries. The prices they currently pay for #1 electrical wire are between $1.20 and $1.25, they are also currently paying between $0.45 and $0.60 for aluminum wheels. The prices they are currently advertising they pay for #2 communications wire (cat 5) is $0.75 - $0.80. For example, MSC although not based in New York are advertising their current scrap metal prices as $2.60 to $2.65 per pound for bare bright copper, they have their buying price for scrap number 1 and number 2 copper as $2.50 to $2.55 for number 1 copper and $2.35 to $2.40 for number 2. If you have scrap metal that you want to sell for top prices per pound in the New York it is a good idea to get a rough idea of how much money you should receive when selling it to scrap yards in your local area.
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