Non-ferrous markets as a whole and copper grade values in particular are dropping precipitously across the scrap metal world. Most of the volatility is directly related to trade tariffs and restriction of material into and out of the US recently imposed by the Chinese government in response to Trump administration moves.
Copper has dropped on the COMEX (Commercial Metals Exchange) from $3.30 as of June 6th to $2.66 on July 18th. This creates drops in scale prices of up to $.50 on premium grades. It also reduces greatly the value of insulated copper wire grades, brass and aluminum copper radiators.
The best guidance available from brokers across the world is that there will be continued instability without any expected improvements until early fall. The hope that many people hold is that these trade tariffs are largely maneuvering by the US with the goal of bringing the countries throughout the world to the table to renegotiate trade agreements.
