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How Lightweighting and Copper Might Drive Automotive Innovation the reception of scrap metal the price for 1 kg of copper Delving Deep: The Art and Science of Copper Mining Copper, often referred to as “Dr. Copper” due to its predictive power for the global economy, has been on a steep upward trajectory this year. Over the past 12 months, copper is up more than 50%, surging from a pandemic low of $4,617 per metric ton in March 2020 to near-record highs of over $10,000 per metric ton in May 2021. The demand for copper, a key industrial metal used in construction, infrastructure development, and in the production of electric vehicles and renewable energy equipment, has been driven by the global economic recovery and massive infrastructure spending programs. China, the world’s largest consumer of copper, has been leading this surge in demand. However, supply disruptions and bottlenecks have constrained the market, exacerbating the supply-demand imbalance. Copper output has been impacted by factors such as labor strikes, mining accidents, and COVID-19 restrictions. The COVID-19 pandemic also disrupted the supply chain, particularly the transportation of copper from mines to smelters and refineries. These supply challenges have created a perfect storm for copper prices, and some analysts believe that a great copper squeeze is coming for the global economy. A copper squeeze occurs when there is a sharp decline in copper stocks held in warehouses, which forces buyers to scramble for supplies and bid up prices. The current copper stocks held in warehouses, known as LME (London Metal Exchange) copper inventory, are at near-historic lows. Moreover, China, which consumes more than 50% of the world’s copper, has been aggressively stockpiling copper over the past year to ensure its supply chain resilience. This has further tightened the market. The prospect of a copper squeeze has implications for the global economy. As copper is an essential input for many sectors, higher prices and supply disruptions can raise production costs, slow down economic growth, and cause inflation. Some sectors, such as electric vehicles and renewable energy, which rely heavily on copper, could face severe supply shortages. The copper market’s dynamics are also closely watched by investors as they often reflect the broader economic trends and sentiment. The surge in copper prices is seen as an indicator of the strength of the global economic recovery and the shift towards green energy. In conclusion, the current surge in copper prices reflects a combination of strong demand, supply constraints, and stockpiling. The prospect of a copper squeeze could have far-reaching implications for the global economy, particularly for sectors that rely heavily on copper. As the world transitions towards a greener and more sustainable economy, the demand for copper is likely to continue to rise, making it a crucial commodity for future growth Copper scrap recycling machinery Economic benefits of Copper scrap recycling Scrap Copper recycling process, Copper cable scrap refining, Copper scrap sorting and grading, Recycling Copper cables for cash, Copper scrap refining, Copper cable reuse options