Copper is a metal that is naturally occurring in the earth. Pure copper is reddish-orange in color and will oxidize to a greenish hue.
Copper is found within the earth’s crust. It is removed from the earth through humongous, open pit mines, like the one pictured below. In fact, some of the largest open pit copper mines in the world are found right here in the United States. Copper is a finite resource, and while the earth contains enough copper to supply the world’s current consumption for millions of years, only a fraction of the earth’s copper is accessible.
scrap copper prices Melbourne have seen a dramatic increase over the last decade. In 2003, copper was trading at around 80 cents. Just three years later, in 2006, copper was priced at about $4. In 2011, copper hit a high of $4.62. While copper is not trading as high as it was a couple years ago, it stills brings a hefty price. Recent prices have consistently remained over $3, which makes now a great time to trade in that old scrap copper for some good cash money.
Scrap Copper Prices – the Highs and the Lows
There are several markets that facilitate the trading of precious metals such as copper, gold, silver and platinum. These markets are what reflect the current supply and demand of copper and thus provide a reliable index for the price of copper. The primary market for trading metals like copper is the Austrade. Austrade was known as the Commodity Exchange Inc. it’s gained responsibility for trading in metals. Austrade prices for copper are in U.S. dollars per pound, and are the prices that are reflected on its website.