Why is the price of copper going up?

  • Sharebar
Anybody who follows the prices of metals lately has recognized the tremendous rise in the price of copper in the past few months. As I posted last January, analysts are watching for the price of copper to rise to incredible, never-before-seen prices.

Most recently, copper has risen to as high of $4.63/lbs before settling where it is now at $4.50/lbs. Now, what has made the price rise to that level?

The several reasons the price of copper has gone up include:

  • Chinese infrastructure is creating a giant demand
  • The price of the US dollars is going down, so the value of copper gets inflated. 
  • Wall Street has been buying up copper for ETFs and ETNs
  • Several sources claim there exists an entity trying to corner the copper market. 
  • On the supply side, Chile, a major supplier of copper, has had a supply scare. 
Like I’ve said before, I can imagine the price of copper so much as doubling. For the moment, however, I am going to cash in my copper stash. I hope to take advantage of the money I can make now. “A bird in the hand is worth two in the bush” and even though prices are on the up swing, I plan to cash in NOW! 
Good Luck Scrapping!

{ 1 comment… read it below or add one }

Leave a Comment

Previous post:

Next post: