Will scrap copper prices go up in the future?

Question

I'm currently sitting on 50 lbs of scrap copper wire.

I've been wanting to sell it but every time I look at the scrap metal prices where I sell my scrap metal too the prices seem to keep falling.

Last month scrap copper was selling for $1.94 lb for #1 copper and $1.72 lb for #2 copper.

Today I looked at the scrap metal prices and scrap copper prices fell to $1.84 lb for #1 and $1.62 lb for #2

I used to get $4.00 lb for scrap copper years ago. Do you think we'll ever see scrap copper prices hit $4.00 lb again?

I hate to sell my scrap copper hoard at these low prices and then regret it in the future if they go back up.

Answer 1

I have scrap copper too that I'm unwilling to sell at these low prices as well.

I'm sitting on 55 lbs in buckets right now but still have more wire to strip and a/c compressors and motors to extract copper from as well as crt telvesions and monitors.

I can't predict the future. But I'm sure in time that the scrap copper prices will indeed go back up to $4.00 a lb one day.

Could be a decade from now then again it could be 20 years from now.

But copper takes up so little space that it's worth holding onto if you don't need the money right away.

Copper is pretty valuable and I'm really sure that it will rise one day when copper smelters are really needing copper.

I say hold out on selling your scrap copper until the prices recover.