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Historically high copper price will keep rising

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.

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