After reaching an eight-year record last year, the price of copper has continued to increase, reaching its highest level in nearly a decade.
The price of copper is now over $9,000 per metric ton, the highest it’s been since September 2011, according to data from The London Metal Exchange. As of Tuesday, Feb. 23, it was $9,158 per metric ton, or about $4.15 a pound.
Copper, a key non-ferrous metal recovered from scrap electronics, has generally been climbing in value since March 2020. In December, E-Scrap News reported the price was reaching an eight-year high.
Earlier this week, Bloomberg explained some of the drivers of the higher prices, including that investors think there may be tight supplies as governments around the world spend money on infrastructure as part of economic stimulus efforts.
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