For instance, while trying to keep up with the demands for these metals, we can quickly run out of resources and sacrifice the environment in the mining process. Recycling copper benefits the environment in several ways. Environmental Benefits of Recycled Copper Keep reading to learn how scrapping copper can benefit you. This not only has a positive environmental impact, but also an economic one. You can trade-in your copper scrap metal or buy recycled copper as a way to save your business money. When there are limited resources, recycling metal becomes more important than ever. While buying new copper is becoming increasingly expensive, there is a nice alternative: recycled copper scrap metal. So, what does this mean for you? Copper: The Scrap Metal of the Future With that being said, copper prices have risen by nearly 80% in 2021, and it does not look like the climb is slowing down anytime soon. For copper, a major supply gap of over 8 million tons from now through 2030 is currently foreshadowed. When there is a high demand and low supply (in this case, a very hard to get to and environmentally challenging supply), prices will rise. Copper Scrap Prices May be On The Rise (Supply vs Demand) With miners being unable to keep up with the demand, it is likely we will see a rise in copper prices. This leaves the miner in competition with other industries for resources such as water. The only copper orebodies left are often ones located in areas that are already struggling with a water crisis. One reason for the outcry is that about half of the orebodies left are close to Indigenous people’s lands or areas protected by biodiversity conservation. Furthermore, political opposition from local and international governments are causing projects to be put off or canceled altogether. With it being difficult to mine copper sustainably, there has been an increase in public outcry against these mining projects. Opposition Against Mining Leads to Legal Battles This is because these orebodies are lower grade and release toxins like arsenic, a chemical element that has the potential to cause cancer and harm the environment.Īlong with this major problem, copper mine operations also face a lot of opposition. Not only does it become difficult to locate unearthed copper, but it also gets harder to mine it sustainably. These locations include places like the Arctic or the deep sea. This leaves us with only the most difficult locations to mine for more. As we mine more and more copper, we begin to use up all of the easily accessible orebodies. In order to get more copper, you need to mine, or unearth, the copper orebodies.

Sustainably Unearthing More Copper is Difficult The problem? We are unable to efficiently meet these demands for copper. But, when the demand of a natural element increases, there needs to be a sufficient supply of it to keep up. You may be saying, “Renewable energy is a good thing, right?” Yes, it is.

Unable to Sustainably Meet Demand for Copper With so many corporations turning to renewable energy, it is predicted that, by 2030, there will be an increase in copper demand by up to 900% on an annual basis to 8.7 million tons. The role of copper in renewable energy has drastically increased as copper is essential in the production of: And one of those resources is none other than copper! Transition to Renewable Energy Increases Demand for CopperĪs more and more governments realize the severity of present-day climate change, such as an increase in global temperatures and natural disasters, there has been a surge in news about the positive effects of renewable energy.Īs we learn new ways to convert to renewable energy, new resources are receiving more attention. So, why is the price of copper scrap expected to increase so much, so quickly? In this article, we will explain why there is an increase in the demand and price of copper and what you can do to reap the benefits.įirst, let’s talk about copper in today’s day and age. But, what if we told you that copper scrap metal is quickly becoming the next big metal?Īn analysis titled “Copper is the New Oil,” Goldman Sachs predicts copper will approach $51,000 per metric ton by 2025. When you think of precious metals, gold, silver, and platinum are probably the first to come to mind.

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