Historically high copper prices may continue to increase as demand from China and the US continues to push it up.
Currently, MRW has copper prices at £5,200-£5,450 a tonne for dry bright wire. And although they softened recently, it seems this was just a small blip.
President of the non-ferrous division of the Bureau of International Recycling Robert Stein said: “Certainly in the European markets, there will be more demand as there is more growth. But it looks as though worldwide demand may cause a shortfall in supply, which will then drive prices even higher.”
Stein said China’s demand is a result of its developing infrastructure, while the weak US dollar is providing more trading opportunities.